MINNEAPOLIS – Flex manufacturer HEI reported fourth quarter sales of $11.8 million, up 133% over last year.
For the period ended Aug. 30, the company reported $473,000 in net profits, easily topping its previous earnings year-to-date. The company had a net loss of $723,000 in the year-ago quarter.
For fiscal 2008, net sales were $42 million, up from $38.4 million in fiscal 2007. The net income was $861,000, reversing a net loss of $5.7 million. Cash flow from operations was
HEI also announced it would change its fiscal year end to the Saturday closest to Dec. 31.