TAITRON REPORTS GROWTH IN 2000.Byline: Daily News VALENCIA - Taitron Components Inc. announced favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. year-end results this week, but noted a small slump Slump A temporary fall in performance, often describing consistently falling security prices for several weeks or months. in the fourth quarter. Net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight for 2000 grew to $32.9 million, compared with $29.3 million a year earlier. Net income for the year grew to $1.7 million, or 28 cents a share, compared with $1 million, or 17 cents a share in 1999. Net sales for the fourth quarter were $7.1 million compared with $7.2 million a year ago. Net income for the same period was $154,000, compared with $231,000 the previous year.. ``We were expecting to complete an otherwise very good year with a strong fourth quarter; however, our fourth-quarter results were affected by the overall slowing economy,'' said Stewart Wang, Taitron's chief executive officer. Despite the slowdown For articles with similar titles, see Slow Down (disambiguation). A slowdown is an industrial action in which employees perform their duties but seek to reduce productivity or efficiency in their performance of these duties. , the company is pursuing a growth strategy. Taitron, which manufactures semiconductors, recently moved into a new 55,000-square-foot warehouse and headquarters in the Valencia Industrial Center. ``Also, we recently signed a franchise distributor agreement with KEC KEC Kootenai Electric Cooperative KEC Kongu Engineering College (Tamilnadu, India) KEC Kentucky Exposition Center (Louisville, Kentucky) KEC Krupajal Engineering College (India) America Corp., one of the largest discrete semiconductor manufacturers in South Korea,'' Wang said. ``The new agreement will provide additional depth to our product line and offer additional choices to our customers.'' Taitron also recently opened its sixth domestic sales office, in Illinois. |
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