TAITRON REPORTS QUARTERLY SALES BOOST.Byline: Daily News VALENCIA - Taitron Components Inc. of Valencia reported an 11 percent increase in first-quarter sales compared with the previous quarter. The company reported 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 of $3.7 million for the period covering Jan. 1 to March 31. And while Taitron also reported a net loss of $193,000 - or 3 cents a share - that compares with a net loss of $509,000 - 9 cents a share - during the last quarter of 2001. Taitron manufactures discrete semiconductors, an industry rocked by the financial uncertainty over the past year. Net sales fell below the $5.5 million recorded in the first period of 2002. ``The low demand for discrete semiconductors still remains an industrywide in·dus·try·wide adv. & adj. Throughout an entire industry: sales that have decreased industrywide; industrywide cooperation. issue resulting from the sluggish economy Sluggish Economy A state in the economy in which the growth is slow, flat or declining. The term can refer to the economy as a whole or a component of the economy, such as weak housing starts. ,'' company President Stuart Wang said. ``Although it is very difficult to know when a recovery may begin, the sequential increase in our sales from the fourth quarter provides some indication that the weakness may be stabilizing stabilizing, v to hold a limb motionless in order to ground its energy; a standard isometric resistance technique, it releases tension and lengthens muscle fibers. .'' Despite the slump, Taitron's position remains strong, Wang said. ``For example, with $25 million of equity, we were able to complete a new loan package, which provides us with a $15 million line of credit,'' he said. ``As of today, we have used approximately $10 million of the $15 million credit line and have approximately $5 million available to draw upon.'' The loss was cushioned by cost-cutting measures. Good news for the company came May 1 when Taitron learned it had regained compliance with the Nasdaq National Market listing requirements Listing requirements Requirements, including minimum shares outstanding, market value, and income, that are laid down by an exchange for any stock to be listed for trading. , after a March 14 notice that Taitron did not meet those requirements. Taitron, based in Valencia, distributes a wide variety of transistors, diodes and other discrete semiconductors, optoelectronic Refers to devices that function due to the interaction of light and electronics. For example, an electronic signal is the input to a laser diode, which generates light pulses that are transmitted through an optical fiber. devices and components utilized by other electronic distributors, original equipment manufacturers and contract electronic manufacturers. |
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