Koss Corporation Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2012; Announces Dividend Payable on April 15, 2013
January 29, 2013 at 10:15 pm
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Koss Corporation announced unaudited consolidated earnings results for the second quarter and six months ended December 31, 2012. For the quarter, the company reported net sales of $8,642,031 against $9,990,771 a year ago. Income from operations was $566,463 against $1,344,291 a year ago. Income before income tax provision was $539,257 against $1,320,279 a year ago. Net income was $338,688 or $0.05 basic and diluted per share against $831,212 or $0.11 basic and diluted per share a year ago.
For the six months, the company reported net sales of $17,556,893 against $18,745,556 a year ago. Income from operations was $1,181,610 against $1,837,761 a year ago. Income before income tax provision was $1,125,105 against $1,773,223 a year ago. Net income was $704,841 or $0.10 basic and diluted per share against $1,111,809 or $0.15 basic and diluted per share a year ago.
The company will pay a dividend of $0.06 per share on April 15, 2013, to shareholders of record on March 29, 2013.
Koss Corporation is engaged in marketing high-fidelity headphones, wireless Bluetooth speakers, computer headsets, telecommunications headsets, active noise canceling headphones, and wireless headphones. The Company operates in the audio/video industry segment of the home entertainment and communication industry through its design, manufacture and sale of stereo headphones and related accessory products. The Companyâs products are sold through United States distributors, international distributors, audio specialty stores, the Internet, national retailers, grocery stores, electronics retailers, and prisons under the Koss name as well as private label. The Company also sells products to distributors for resale to school systems, and directly to other manufacturers for inclusion with their own products. The Company has a manufacturing facility in Milwaukee, Wisconsin and uses contract manufacturing facilities in the Peopleâs Republic of China and Taiwan.
Koss Corporation Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2012; Announces Dividend Payable on April 15, 2013