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
TheStreet Open House

PHAZAR CORP Reports Fourth Quarter And Fiscal Year 2012 Financial Results

Stock quotes in this article: ANTP

Fiscal Year Ended June 30, 2012

The Company reported revenues for the fiscal year 2012 of $6,613,864, a decrease of $1,785,722, or 21% compared to fiscal year 2011 ending on June 30, 2011. The pattern of sales for the fiscal year reflects significant declines in the ILS market, down $2,223,399 year over year. The gross profit margin remained at 44% year over year.

The $897,882, or 35% increase in selling, general and administration expense reflects a $545,000 increase in the level of marketing costs in fiscal year 2012 versus 2011, $164,387 of non-recurring stock compensation expense in fiscal year 2012 along with a continued increase in plant utilization overhead. Research and development costs of $503,343 were up $342,732, for the year ended June 30, 2012 compared to $160,611 for fiscal year 2011. In the prior year, the research and development costs related to the mesh product line were written off through discontinued operations.

As of June 30, 2012, the Company recorded a $273,861 valuation allowance on the amount of the non-current deferred tax asset related to the net operating loss carry forward, as it is more likely than not that some portion of this non-current deferred tax asset may not be realized. There was no valuation allowance provided in prior year. In management’s estimation, the remaining deferred tax assets and liabilities will reverse over time and, therefore, are not offset by a valuation allowance.

The Company recognized a net loss of $882,302, or $.38 for fiscal year ended June 30, 2012 compared to a net loss after discontinued operations of $326,771, or $.15 per share for the year ended June 30, 2011.

Backlog of Orders

The Company's backlog of orders on June 30, 2012, totaled approximately $1,487,491 compared to $2,277,566 at June 30, 2011 a decrease of 34.7%. Incoming orders for the year ended June 30, 2012 totaled $5,862,254 versus $8,359,869 for the fiscal year ended June 30, 2011, a decrease of 29.9%.

2 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!
DOW 16,753.36 -51.35 -0.31%
S&P 500 1,943.96 -2.20 -0.11%
NASDAQ 4,415.1470 -6.9380 -0.16%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs