Winland Electronics Inc. Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2012
For the six months, the company has reported net sales of $1,626,000 against $1,904,000 a year ago. Operating loss was $303,000 against $411,000 a year ago. Loss from continuing operations was $167,000 or $0.05 per basic and diluted against $444,000 or $0.12 basic and diluted per share a year ago. Loss from continuing operations before income taxes was $167,000 against $435,000 a year ago. Net loss was $167,000 or $0.05 basic and diluted per share against $346,000 or $0.09 basic and diluted per share a year ago. Net cash used in operating activities was $420,000 against $581,000 a year ago. Purchases of property and equipment were $5,000 against $10,000 a year ago. The decrease was primarily related to a decrease in sales to the company's distributor of $205,000 and the non-recurring customer project in 2011.