Rex Stores Reports Fiscal 1st-quarter Loss

DAYTON, Ohio (AP) — Rex Stores Corp., which runs a chain of consumer electronics stores and invests in alternative energy, said Tuesday that it moved to a fiscal first-quarter loss on weakening results from its alternative energy division.

The company reported a loss of $1.7 million, or 19 cents per share. That compares with net income of $1.5 million, or 13 cents per share, a year earlier.

Loss from continuing operations attributable to stockholders was $1.3 million, or 14 cents per share.

Rex's alternative energy unit posted a loss of $2 million, compared with earnings of $428,000 a year earlier.

The quarter was also hurt by the absence of income from synthetic fuel investments. The previous year included $670,000 of such income.

Sales for the quarter ended April 30 climbed to $29.7 million, up 11 percent from $26.8 million in the prior-year period.

Shares of Rex Stores fell 23 cents, or 2.2 percent, to $10.44 in morning trading. Over the past year, the stock has traded in a range of $5.52 to $15.94.

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