COSTS, PRICE COMPETITION PUSH TAITRON'S 1997 EARNINGS LOWER.Byline: Enrique Enrique (IPA [en'ɾike]) is the Spanish form of the name Henry. As a given name, it ranked 298 out of 1219 for males of all ages in the 1990 U.S. Census. Rivero Daily News Staff Writer Taitron Components Inc. on Thursday reported a 14 percent decrease in 1997 earnings despite a jump in sales, a drop blamed largely on tough competition in the electronics industry. Year-end earnings were about $1.9 million, or 27 cents per diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. share, compared with the prior year's $2.2 million, or 31 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the company. Total revenue for the distributor of transistors, diodes and other electronic components was $33.9 million, up about 13 percent from $30.1 million the prior year. Fourth-quarter net earnings also dropped by nearly 13 percent to $384,000, or 6 cents per diluted share, compared with $440,000, also equal to 6 cents per share, during the like period in 1996. Sales were about $8.8 million, up about 20 percent from nearly $7.3 million in the year-ago period. The year's earnings were hurt by price competition, chief financial officer David Batt said. ``There's a lot of competition there holding the prices down,'' Batt said. Other factors that affected year-end earnings were expenses related to the expansion of the company's sales force; the opening of an office in Taipei, Taiwan; and a $163,000 write-off Write-Off A reduction in the value of an asset or earnings by the amount of an expense or loss. Companies are able to write off certain expenses that are required to run the business, or have been incurred in the operation of the business and detract from retained revenues. on software costs, he said. |
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