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 Fourth Quarter, Full-Year 2010 Results

Winland Electronics, Inc. (AMEX: WEX) today announced net sales of its Proprietary Environmental Monitoring products for the fourth quarter of 2010 were $868,000, up 6 percent over the comparable period of 2009. The Company reported a net loss of $1.9 million or $0.50 per basic and diluted share for the quarter.

As announced on January 3, 2011, the Company completed the sale of its Electronic Manufacturing Services (EMS) business unit to Nortech Systems, Incorporated. The EMS business is reported as discontinued operations.

The Company recorded an operating loss for the fourth quarter of 2010 of $858,000 versus an operating loss of $284,000 for the same period in 2009. Gross margins were significantly impacted by under utilization of manufacturing costs dropping from 36.3 percent to 21.0 percent. Operating expenses for the fourth quarter of 2010 were $1.0 million, a 79 percent increase over 2009 fourth quarter. The substantial increase was primarily due to net effect of severance packages paid to the Company’s previous chief executive and chief financial officer and increased professional fees.

“Our investment in sales and marketing continued to increase market awareness of the solutions our products offer in monitoring critical environments,” said Brian Lawrence, Chief Financial Officer and Senior Vice President. “Sales were up 6 percent over 2009 and have returned to levels consistent with 2008, but were not enough to offset one-time charges related to the sale of our EMS business.”

Full Year results

Proprietary Products net sales for the year ended December 31, 2010 were $3.3 million, up $126,000, or 4 percent, versus the year ended December 31, 2009. The increased sales were the result primarily of a 5 percent increase in sales to the Company’s largest distributor. The Company reported a net loss (including discontinued operations) of $3.5 million, or $0.96 per basic and diluted share for the year ended December 31, 2010, compared to the $1.5 million net loss, or $0.42 per basic and diluted share, for the same period of 2009.

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
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

Markets

Chart of I:DJI
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 +1.21 0.06%
NASDAQ 4,828.3250 +15.6170 0.32%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs