This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Winland Electronics, Inc. Reports First Quarter 2010 Results

Winland Electronics, Inc. (AMEX:WEX), a leading designer and manufacturer of custom electronic control products and systems, today announced net sales of $4.5 million for the first quarter ended March 31, 2010, down $2.6 million, or 36.5 percent compared with the corresponding period in 2009. The company reported a net loss of $539,000, or $0.15 per share versus a net loss of $125,000, or $0.03 per share in the comparable quarter in 2009.

EMS sales for the quarter totaled $3.7 million versus $6.4 million in the first quarter of 2009, a decline of 42.4 percent. Factors negatively impacting sales during the current quarter versus the comparable quarter in 2009 were (1) the completion of a large design engineering project with no similar offsetting project this year; (2) the transition of Select Comfort from Winland; and (3) the decline in sales from our top three customers. Net sales for Winland’s proprietary products segment for the quarter totaled $847,000, an increase of $118,000, or 16.2 percent from the comparable period in 2009.

“Winland continued to establish new customer relationships during the last few quarters, but during the first quarter, sales from these new customers ramped at a slower pace than expected,” said Thomas de Petra, President and Chief Executive Officer of Winland Electronics. “That said, Winland’s sales efforts and the broadening base of customer relationships we are establishing is consistent with our long-term strategy and shows considerable promise over the longer term. We are also pleased with the growth in sales of our proprietary products, which continues to reflect our investment in sales and marketing of this segment of our business.”

Winland’s customer base includes companies in transportation logistics and fleet management, industrial, safety systems, instrumentation, medical and telecommunication.

The Company recorded an operating loss for the quarter of $525,000 versus an operating loss of $65,000 in the comparable quarter in 2009. Gross margin totaled 9.2 percent versus 15.0 percent in the comparable period in 2009.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
WEX $101.19 0.00%
AAPL $114.64 0.00%
FB $94.06 0.00%
GOOG $629.25 0.00%
TSLA $266.28 0.00%

Markets

Chart of I:DJI
DOW 17,550.69 -47.51 -0.27%
S&P 500 2,093.32 -4.72 -0.22%
NASDAQ 5,105.5460 -9.8360 -0.19%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs