Micron Solutions, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2017; Provides Gross Margin Guidance for the Second Half of 2017
August 11, 2017 at 09:36 pm
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Micron Solutions, Inc. reported earnings results for the second quarter and six months ended June 30, 2017. For the quarter, the company reported net sales of $5,391,000 compared to $5,129,000 a year ago. Net loss was $511,000 or $0.18 per diluted share compared to net income of $62,000 or $0.02 per diluted share a year ago. The increase in net sales in the second quarter was from net sales of sensors and tooling, net of deferred revenue. The increase was partly offset by decreased net sales of thermoplastic injection molded products, as well as net sales of orthopedic implant components and instruments. Negative EBITDA was $10,000 compared with EBITDA of $501,000 for the same period in 2016.
For the six months, the company reported net sales of $10,656,000 compared to $10,112,000 a year ago. Net loss was $810,000 or $0.29 per diluted share compared to $322,000 or $0.11 per diluted share a year ago. The increase in net sales for the six months ended 2017, compared with the same prior year period was from net sales of sensors, thermoplastic injection molding and tooling, net of deferred revenue. EBITDA for the first half of 2017 was $142,000 compared with $576,000 for the same period in 2016.
Starting in the second half of 2017, the results of cost-cutting measures and productivity improvements are expected to improve gross margin and reduce operating expenses.
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. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2017; Provides Gross Margin Guidance for the Second Half of 2017
MICRON SOLUTIONS, INC. 
