For the quarter ended June 30, net loss was $183,000 on a drop in sales at its German subsidiary Kubatronik Leiterplatten GmbH. For the first half, net loss was $78,000, compared to $1.1 million year-over-year. The improvement is a result of a higher US dollar exchange rate and cost-reducing measures. 

Gross profit was $1.3 million, 16% of revenues, for the quarter, down slightly from $1.7 million, 15% of revenues, year-over-year. For the first six months, gross profit was $3 million, 17% of revenues, compared to a $2.7 million, 13% of revenues, last year.  

To deal with its drop in revenue, the company has cut hours, reduced salaries and improved raw material consumption.