19 May 2014
Emrise Corp. (OTCBB: EMRI) said its overall net sales in the 2014 first quarter increased to USD7.8m from USD7.7m in the 2013 first quarter.
CEO Carmine T. Oliva noted that the rate of incoming orders in the company´s electronic devices and communications equipment segments during this year´s first quarter was strong and by the end of the quarter the company´s total backlog had increased to USD26.8m from USD24.5m and USD25.9m, respectively, at the end of the first and fourth quarters of last year.
Net sales in this year´s first quarter, however, were impacted by a six percent year-over-year decline in shipments in the company´s electronic devices segment, principally due to customer scheduling that results in stronger levels of scheduled shipments in the second, third and fourth quarters than in the first quarter of this year.
Net loss for the first quarter of 2014 was USD785,000, or USD0.07 per basic and diluted share, compared to net loss for the 2013 first quarter of USD528,000, or USD0.05 per basic and diluted share. In addition to the expenses included in the 2014 first quarter mentioned above, the first quarter of every year is when the company bears the largest proportion of the expenses associated with required year-end financial reporting, the issuance of its annual filings and other public company matters.
Emrise designs, manufactures and markets electronic devices, sub-systems and equipment for aerospace, defense, industrial and communications markets. For more information on Emrise, go to www.emrise.com.