Tech/Ops Sevcon Reports Q1 EPS of $0

Tech/Ops Sevcon, Inc. (NASDAQ: TO)

Sales of $6,883,000 were $522,000 higher than in the first quarter last year after giving effect to foreign currency fluctuations, which reduced reported sales in the first fiscal quarter by $192,000. Excluding the impact of foreign currency, shipment volumes were $714,000 higher than last year, due mainly to sales of the Company's new Gen4 AC product to new applications.

The Company recorded net income for the quarter of $5,000, compared to $159,000 in the first quarter of last year.

On a per share basis, the Company broke even for the quarter, compared to net income of $0.05 last year.