coretec swings to loss

by:Rocket PCB     2019-10-19
Coretec Inc. (TSX: CYY)
Said the Canadian dollar higher and slower sales led to its second
Quarterly losses were $645,000 or 3 cents per share.
The board maker reported earnings per share of $383,000 or 2 cents in the same period last year.
Sales for the second quarter were $21.
8 million, a decrease of 4.
Five cents, $22.
The same period in the previous year was 8 million.
Core Technology said it included $400,000 in foreign exchange losses in the second quarter, partially offset by gains from selling fixed assets of $100,000.
Paul Langston, President and CEO of core technology, said in a press release: \"The company\'s unsatisfactory financial performance involves both macro and micro issues . \".
\"From a macro point of view, the company is affected by the general slowdown in PCB (
Printed circuit board)industry . . . .
From a micro perspective, the company has experienced disruptions related to the relocation of Lawrence\'s manufacturing business.
Lanston said that industry shipments and bookings had dropped by 11 by the end of May 2007.
6 points and 17 points.
According to data from the North American PCB Industry Association, compared with the same period in 2006, it was 7 percentage points respectively.
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