Comarco Reports Q2 Fiscal 2011 Financial Results
September 07, 2010 4:04 PM
Comarco, Inc. (Nasdaq: CMRO) today announced its financial results for the second quarter of fiscal 2011 ended July 31, 2010.
Revenue for the second quarter of fiscal 2011 was $12.8 million compared to $7.6 million for the second quarter of fiscal 2010. Sequentially, revenue increased $5.3 million from the first quarter of fiscal 2011. Gross profit margin for the second quarter of fiscal 2011 was 17% compared to 25% in the second quarter of fiscal 2010. The decrease in gross profit margin was due to increased shipping and material costs required to get the new Manhattan retail product into retail outlets on a timely basis.
The Company generated an operating profit from continuing operations of $19,000 compared to a loss from continuing operations of $0.6 million for the same quarter in the prior fiscal year.
The Company reported a net loss of $0.6 million, or $(0.08) per share, for the recent second quarter, entirely driven by severance and associated costs relating to the WTS business which was sold late in fiscal year 2010. This net loss compares to a net loss of $0.7 million, or $(0.09) per share, for the second quarter of the prior fiscal year.
