| Nu Horizons’ Q1 Sales Up 24% |
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| Monday, 12 May 2008 09:35 | |||
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MELVILLE, NY – Nu Horizons Electronics said net sales from continuing operations for the fourth quarter were $193.18 million, up 24.3% compared to last year. Sales in its core components distribution business increased 28.2%. Net income for the quarter was $424,000, down almost 19% year-over-year. For the fiscal year ended Feb. 29, revenues increased to $747.2 million, up 11.8% year-over-year. Distribution sales increased 20.1%. Net income was $2,519,000, down 67.4% from the same period last year. Chairman and CEO Arthur Nadata said, “We are executing well on our sales growth strategy with 42% growth in Asia, 106% in Europe and 11.8% total sales growth year-over-year. We continue to invest in Germany and expect this to fuel future growth in Europe.” Professional fees continue to adversely affect earnings, he said.
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| Last Updated on Monday, 12 May 2008 09:36 |
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