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

Pulse Electronics Corporation Reports Second Quarter Results

Pulse Electronics Corporation (NYSE:PULS), a leading provider of electronic components, today reported results for its second quarter ended June 27, 2014.

Second Quarter Highlights
  • Net sales were $93.6 million, up 6.0 percent from $88.3 million in the prior-year quarter, and up 14.6 percent from $81.7 million in the first quarter.
  • Operating profit (U.S. GAAP) was $1.7 million compared with a profit of $1.6 million in the prior-year quarter and a loss of $1.4 million in the first quarter.
  • Non-GAAP operating profit was $2.9 million, compared with $2.2 million in the prior-year quarter and $0.1 million in the first quarter.
  • Adjusted EBITDA was $4.8 million, compared to $4.0 million in the prior-year quarter and $1.9 million in the first quarter. As a percentage of revenue, Adjusted EBITDA margin was 5.1 percent, compared to 4.6 percent in the prior-year quarter and 2.3 percent in the first quarter.
  • Completed the company’s financial restructuring with redemption of remaining convertible notes.

CEO Comments

“Our operating results in the second quarter for revenue and non-GAAP operating profit were higher both sequentially and year-over-year, as we expected based on the strength in industry demand we experienced in the first quarter,” said interim Chief Executive Officer Alan Benjamin. “Shipments in key network and power product lines were strong following higher order rates coming into the quarter, and higher demand in our smartphone programs bolstered revenue in the wireless segment.

“Pulse’s overall strategy remains unchanged: we continue to focus on aggressive EBITDA growth through margin improvement, cost and expense reductions, and growth in new channels. This quarter’s increase in EBITDA margin demonstrates our ability to generate good growth in EBITDA with increases in revenue,” Mr. Benjamin continued. “We will continue to pursue cost and expense reductions in the third quarter with the objective of further improving our EBITDA margin.

1 of 5

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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs