Micron Solutions, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2018
August 14, 2018 at 12:52 pm
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Micron Solutions, Inc. reported earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported net sales of $5,320,000 compared to $5,391,000 a year ago. Net income was $34,000 or $0.01 per diluted share compared to net loss of $511,000 or $0.18 per diluted share a year ago. The company improved adjusted EBITDA to $527,000 or 9.9% of sales, compared to adjusted LBITDA of $10,000, or 0.2% of sales, for the three months ended June 30, 2017, an increase of $537,000.
For the six months, the company reported net sales of $10,439,000 compared to $10,656,000 a year ago. Net loss was $146,000 or $0.05 per diluted share compared to $810,000 or $0.29 per diluted share a year ago. Net sales decreased when compared to the same period last year, due to lower sales of thermoplastic injection molded products and decreased net sales of tooling, partly offset by increased net sales of machined orthopedic implant components and instruments, as well as sensors. The company improved adjusted EBITDA to $878,000, or 8.4% of sales, compared to $142,000, or 1.3% of sales, for the six months ended June 30, 2017, an increase of $736,000.
Micron Solutions, Inc. is a diversified contract manufacturing organization (CMO). The Company, through its subsidiary, Micron Products, Inc., produces medical devices, military, and consumer components and assemblies requiring precision machining and custom injection molding. The Company provides design, engineering, quality and regulatory across the Companyâs three product lines: machining, thermoplastic injection molding and sensors. It machines components for implants and instruments for medical devices, including large joint replacements, wrist plates, rib fixation plates, and screws. Its custom thermoplastic injection molding services meet the needs of customers who require clean room molding, in-cycle vision inspection, assembly and packaging to tight tolerances using engineered materials. Its other value-added services include pad printing, ultrasonic welding, stamping, laser marking, clean room molding, clean room assembly, specialty coatings, plastic machining and others.
MICRON SOLUTIONS, INC. 
