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Nu Horizons Second-Quarter Profit Falls

*Stock closed down -7.51% on Wednesday, October 5th...

Nu Horizons Second-Quarter Profit Falls
Wednesday October 5, 9:40 am ET
Nu Horizons Second-Quarter Profit Falls on Higher Cost of Sales and Operating Expenses

MELVILLE, N.Y. (AP) -- Nu Horizons Electronics Corp., an electronics component distributor, on Wednesday said second-quarter earnings fell on higher cost of sales and operating expenses.

Profit in the quarter ended Aug. 31 fell to $820,000, or 5 cents per share, from $1.2 million, or 7 cents per share, in the year ago period. Sales rose to $128.2 million from $119.2 million last year.

Shares of Nu Horizons were recently down 60 cents or 7.15 percent to $7.79 in morning trading.

Nu Horizons -- which distributes components such as memory chips and transistors -- said cost of sales increased to $107.6 million from $99.5 million in the year-ago period, while operating expenses rose to $126.2 million from $116.7 million.


LINK: http://biz.yahoo.com/ap/051005/earns_nu_horizons.html?.v=1