This Day On The Street
Continue to site
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

PHAZAR CORP Reports Fourth Quarter And Fiscal Year 2010 Financial Results

PHAZAR CORP, (NASDAQ: ANTP) designs, manufactures and markets antennas, wireless mesh network solutions, towers, support structures, masts and communication accessories worldwide. Today, PHAZAR CORP announces the audited results of operations for the three and twelve month periods ended May 31, 2010.

Fourth Quarter Fiscal Year 2010

Revenues of $1,732,834 for the fourth quarter increased 4% compared to $1,660,513 for the same period last year. Commercial Wireless sales have made a good recovery, showing gains in excess of 75% over the fourth quarter last year. Sales from our new mesh wireless product became noticeable for the first time as well. But our traditional governmental related categories showed continued sluggish demand, falling 29%.

The net loss in the fourth quarter of fiscal year 2010 is attributed to a 20% increase in cost of goods sold and a 43% increase in sales and administration expense compared to the same three month period in prior year.

The $224,251, or 20% increase in cost of goods sold is largely attributed to a $203,000 warranty reserve for an ongoing voluntary recall of safety climb components and a replacement of a specific production run of a new antenna design that was found to have a manufacturing defect, which has since been rectified. Excluding that reserve charge, ongoing gross profit margins continued the improved pattern seen in prior quarters.

The $314,846, or 43% increase in sales and administration expense reflects higher compensation costs associated with employees working on our mesh radio wireless network product line and indirect labor costs. Research and development costs of $159,533 were down $205,529, or 56% for the three months ended May 31, 2010 compared to $365,062 in the prior year, but that is essentially a timing issue as R&D is flat for the full fiscal year.

The Company recognized a net loss of $569,397, or $.25 per share for the fourth quarter, compared to net loss of $282,245, or $.12 per share, in last year's fiscal fourth quarter.

1 of 4

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
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
AAPL $130.28 0.00%
FB $81.53 0.00%
GOOG $565.06 0.00%
TSLA $218.42 0.00%
YHOO $44.52 0.00%


DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs