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Written by Kathy Nargi-Toth
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Tuesday, 22 January 2008 |
PLYMOUTH, MN - Innovex Inc.,
reported a first-quarter loss of $7.9 million. After 9 years of
continued losses, the company announced the Board of Directors will
consider sale, merger or recapitalization to improve shareholder
value.
The revenue for the quarter ending December 2007 was $20.8 million. This was down 20% compared to the previous year’s results.
Lower
than anticipated revenue was linked to production delays related to
Actuator Flex Circuit (AFC) that represents a third of the
Innovex's revenue. Innovex’s primary business operations are located in
Lamphun, Thailand. |
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