| CirTran's Sales Drop 27% YOY |
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| Written by Mike Buetow | |||
| Tuesday, 21 November 2006 09:57 | |||
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SALT LAKE CITY -- CirTran Corp., an electronics contract manufacturer, announced third-quarter net
sales fell 27.2% year-over-year to $3 million, while the net
loss was $2.9 million, including $2.65 million in non-cash charges. For the period ended Sept. 30, sales were up 37% sequentially. It was the third consecutive quarter of sales growth for CirTran. For the quarter the gross profit margin was 26.8%, down from 39% a year ago and 44.6% sequentially. Selling, general and administrative expenses were $1.1 million, up 2.5% year-on-year and down 44.9% sequentially. EBITDA rose 65.9% to a loss of $333,383 over the previous quarter. The company's Diverse Media division signed several marketing and distribution agreements during the quarter as the company extended its product offerings beyond electronics assemblies. Year-to-date. net sales are down 39.2% to $7 million, and the net loss is $3.9 million, down from net income of $839,543.
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