and here it is: StockerYale Q1 Net Loss Widens On Higher Expenses; Guides Q2
(RTTNews) - Thursday, StockerYale, Inc. (STKR) announced its first quarter financial results, reporting a wider net loss hurt by an increase in expenses. The company also issued financial guidance for the second quarter.
The Salem, New Hampshire-based StockerYale reported a net loss for the first quarter of $2.2 million or $0.06 per share compared to $1.6 million or $0.05 per share in the year-ago quarter.
Net sales for the quarter were $8.1 million, up 8% from $7.5 million in the prior-year quarter.
Photonic Products sales increased 19% year-over-year and 13% quarter-over-quarter while lasers in total grew 6% over the first quarter of 2007 and 4% over the fourth quarter of 2007.
Gross profit for the quarter decreased 4% to $2.5 million from $2.6 million in the first quarter of 2007. Gross profit margin, expressed as percentage of sales, declined to 31% from 34% in the same quarter last year.
Operating expenses totaled $4.0 million, up 12% from $3.6 million in the first quarter of 2007. Other expenses, which include primarily non-cash debt discount and financing costs, decreased by $9 thousand or 2%.
Operating loss for the first quarter was $1.5 million compared to $1.0 million for the first quarter of 2007.
Net loss including discontinued operations was $2.2 million or $0.06 per share compared to $1.6 million or $0.05 per share for the first quarter of 2007.
Based on strong order bookings and backlog, StockerYale expects second quarter 2008 revenue to be in the range of $8.1 to $8.5 million.
STKR closed Thursday's regular trading session at $0.61 on a volume of 4.28K shares on the Nasdaq.
"watch yer keester"
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