Ehren continued, "Gross margins for the three-month period ended June 30, 2013 continue to show improvement over the prior fiscal year due primarily to more efficient plant utilization and improved product mix. The third quarter of fiscal 2013 was only moderately affected by acquisition-related fair value adjustments, which are expected to have a larger impact in the fourth quarter. In addition, fourth-quarter margins are expected to be affected by a less favorable product mix."Net sales for the nine months ended June 30, 2013 were $94.8 million, compared with $87.8 million for the comparable period in fiscal 2012. For the nine months ended June 30, 2013, gross profit was $32.6 million, compared to $26.9 million for the same nine-month period of fiscal 2012, or 34.4% and 30.7% of sales, respectively. Operating expenses for the nine months ended June 30, 2013 were $28.7 million, or 30.3% of sales, compared to $27.5 million, or 31.3% of sales, for the corresponding period of fiscal 2012. The Company reported net earnings for the nine months ended June 30, 2013 of $2.7 million, or $0.47 per diluted share, compared to a net loss of $705,000, or $0.13 per diluted share, for the corresponding period in fiscal 2012.
Key Technology Announces Strong Financial Results For Fiscal 2013 Third Quarter
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