Nu Horizons’ Q1 Sales Up 24% PDF Print E-mail
Monday, 12 May 2008 09:35
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.
Last Updated on Monday, 12 May 2008 09:36


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