| Merix Posts Dismal Q4 | | Print | |
| Tuesday, 14 July 2009 10:21 | |||
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BEAVERTON, OR – Merix Corp. reported a fourth-quarter net loss of $8.4 million, compared to a net loss of $3.5 million last year. The loss included $3.6 million of non-recurring expenses: $1.1 million in cash severance payments from March layoffs; $1.6 million related to securities litigation; and $900,000 in non-cash impairment charges. For the quarter ended May 30, sales fell 33% from last year to $58.9 million. Despite a 3% drop in sales sequentially, Michael Burger, president and CEO, believes demand “is at or near the bottom of this economic cycle.” Gross margins increased sequentially, averaging 8.5% for the quarter, on cost-saving measures implemented at the beginning of the year and operational improvements. Borrowing remained at $78 million, unchanged from the February quarter. For the fiscal year, net loss rose to $49.26 million, compared to $25.55 million last year. Net sales fell 24% to $287.13 million.
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| Last Updated on Tuesday, 14 July 2009 10:22 |
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Online MSDS Management Solution manages system independently and bulk uploads hundreds of documents in minutes from anywhere in a secure environment. Is a hosted service. Does not require specialized software installation, new hardware or IT resources. Future improvements are automatically available at no cost. Can reliably access required MSDSs 24/7/365 globally; can archive obsolete MSDSs for 30+ years. Quick Search function displays results in real time. No restriction for the number of documents that can be loaded for each product; products and documents can be added individually or in...
Online MSDS Management Solution manages system independently and bulk uploads hundreds of documents in minutes from anywhere in a secure environment. Is a hosted service. Does not require specialized software installation, new hardware or IT resources. Future improvements are automatically available at no cost. Can reliably access required MSDSs 24/7/365 globally; can archive obsolete MSDSs for 30+ years. Quick Search function displays results in real time. No restriction for the number of documents that can be loaded for each product; products and documents can be added individually or in...
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