WYLIE, TX – Global Innovation Corp. reported net sales fell 36% to $4.9 million for period ended Jan. 31. The net loss was $480,463, down from a profit of $316,873 a year ago.
GIC attributed the decreases to its commercial customers, adding that it saw more consistency and some relative growth in its military business.
Gross profit dropped 62% to $768,079, dragging the gross margin down 10 points year-over-year to 16%.
GIC makes bare circuit boards.