Gross profit margin for the quarter was 72%, as compared to 76% in the previous quarter and 77% in the year ago quarter, reflecting the addition of the second production shift in 2012, as well as increased allocation of G&A expenses due to increase production.
Operating expenses for the quarter totaled $6.2 million, as compared to $7.2 million in the previous quarter and $6.1 million in the second quarter of 2011.
Operating loss for the quarter was $347,000, compared to $1.3 million in the previous quarter and $280,000 in the second quarter of 2011.
Net income was approximately $731,000, or $0.02 per basic share for the quarter and this compares to a net loss of $1.1 million, or $0.03 per basic share in the previous quarter, the net loss in the second quarter of 2011 of approximately $405,000, or a penny per share.EBITDA for the quarter totaled a positive $8,000, and this compared to an EBITDA loss of approximately $540,000 for the previous quarter and EBITDA of $35,000 in the second quarter of 2011. Please see definition and important discussion about our use of the EBITDA and non-GAAP term in today’s earnings release which is now available in the Investor section of our website. Now turning to the balance sheet, cash and cash equivalents and net accounts receivable was $7.8 million at June 30th, this compared to a total of $7.8 million at December 31, 2011. We also have future access to approximately $3 million on non-dilutive revolving AUR credit facility, which closed in April of this year. The formula for drawing this fund is based upon 80% of our eligible accounts receivable balance. Read the rest of this transcript for free on seekingalpha.com
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