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Nu Horizons Reports Financial and Operating Results for the Second Quarter of Fiscal Year 2003
October 10, 2002 |Estimated reading time: Less than a minute
Melville, N.Y. -- Nu Horizons Electronics Corp. has reported financial and operating results for the second quarter and six months ended August 31, 2002.
Net sales from continuing operations for the second quarter increased to $80.3 million from $69.9 million for the comparable period last year. Net income from continuing operations for the quarter was $254,000 or 2 cents per share on 16,646,868 basic shares outstanding (2 cents per share on 16,714,882 diluted shares), compared with $437,000 or 3 cents per share on 16,562,583 basic shares outstanding (3 cents per share on 17,476,420 diluted shares) in the same period last year.
For the six months ended August 31, 2002, net sales from continuing operations decreased to $155.3 million from $159.7 million in the comparable period last year. Net income from continuing operations for the first half of fiscal 2002 was $262,000 or 2 cents per share on 16,641,658 basic shares outstanding (2 cents per share on 16,783,837 diluted shares), compared with $879,000, or 5 cents per share on 16,554,857 basic shares outstanding (5 cents per share on 17,459,186 diluted shares) in the year-earlier period.
Nu Horizons is a national distributor of electronic components, which provide innovative, total semiconductor solutions through products and technologies that are faster, smaller and lower powered. For more information, visit www.nuhorizons.com.