-
- News
- Books
Featured Books
- smt007 Magazine
Latest Issues
Current IssueIPC APEX EXPO 2025: A Preview
It’s that time again. If you’re going to Anaheim for IPC APEX EXPO 2025, we’ll see you there. In the meantime, consider this issue of SMT007 Magazine to be your golden ticket to planning the show.
Technical Resources
Key industry organizations–all with knowledge sharing as a part of their mission–share their technical repositories in this issue of SMT007 Magazine. Where can you find information critical to your work? Odds are, right here.
The Path Ahead
What are you paying the most attention to as we enter 2025? Find out what we learned when we asked that question. Join us as we explore five main themes in the new year.
- Articles
- Columns
Search Console
- Links
- Media kit
||| MENU - smt007 Magazine
Sparton Reports $97M Net Sales for 2Q FY2017
February 21, 2017 | Sparton Corp.Estimated reading time: 1 minute
Sparton Corp. has reported net sales of $97.4 million and gross profit margin of 16.3% for the second quarter of fiscal year 2017 ended January 1, 2017.
"We are pleased to report that our Q2 performance reflects the continued improvement in revenues and profitability in our MDS segment as well as the continued strengthening of our balance sheet. The MDS segment reported net organic revenue growth along with increased new program wins and stronger margins as compared to the prior quarter and Q2 of fiscal 2016. Our ECP segment did not perform as expected due to delays in production of the Q53G sonobuoy and the need to record a loss on a contract in our rugged display platform. Both of these issues have been addressed and are not expected to have any impact on future results," commented Joseph J. Hartnett, Interim President & CEO.
Joe McCormack, Senior Vice President and CFO, said, "Through our continued focus on working capital management and cash flow, we generated strong free cash flow in the quarter of $10 million, principally as a result of the management of inventory levels and our supply chain. We are pleased to report that our borrowings under our revolving credit agreement was reduced to $85.7 million."
Hartnett concluded, "Looking forward, we expect third quarter revenues to be in the range of $97 million to $101 million with a gross profit margin of approximately 18.5%."
As previously announced, the Board of Directors of Sparton is exploring a possible sale of the company. There can be no assurance that such a sale will occur.
About Sparton
Sparton Corporation (NYSE:SPA), now in its 117th year, is a provider of complex and sophisticated electromechanical devices with capabilities that include concept development, industrial design, design and manufacturing engineering, production, distribution, field service and refurbishment. The primary markets served are Medical & Biotechnology, Military & Aerospace and Industrial & Commercial. Headquartered in Schaumburg, IL, Sparton currently has thirteen manufacturing locations and engineering design centers worldwide. For more information, visit www.sparton.com.
Suggested Items
Collins Aerospace Approved to Begin Full Rate Production of MAPS Gen II system
03/13/2025 | Collins AerospaceCollins Aerospace, an RTX business, has received approval for Full Rate Production of the Mounted Assured Positioning, Navigation and Timing (PNT) Generation II system (MAPS GEN II).
Applied Aerospace Acquires NeXolve
03/12/2025 | PRNewswireApplied Aerospace, a proven manufacturer of solutions for commercial and military spacecraft, aircraft, and ground-based systems, announced it has completed the acquisition of NeXolve.
RTX's Collins Aerospace Unveils New Engineering Development and Test Center in Bengaluru
03/10/2025 | RTXCollins Aerospace, an RTX business, opened its new Engineering Development and Test Center (EDTC) at the company’s North Gate campus in Bengaluru, India. The new facility streamlines product development, testing, and certification of components locally, bringing aerospace technologies to market faster.
Jaltek Joins Midlands Aerospace Alliance
03/06/2025 | JaltekJaltek are delighted to officially announce that they have joined the Midlands Aerospace Alliance (MAA). The MAA which was formed in 2003 to support and represent the aerospace industry across the Midlands region, now represents one of the largest aerospace clusters in the world and is one of the strongest advocates for both the aerospace industry and the Midlands region.
Real Time with... IPC APEX EXPO 2025: Navigating Aerospace Training Trends With Blackfox
02/26/2025 | Real Time with...IPC APEX EXPOSharon Montana-Beard, Blackfox Training’s vice president of international and strategic sales, updates Nolan Johnson on the latest training demands and offerings from Blackfox.