Sevcon, Inc. reported unaudited earnings results for the second quarter and six months of fiscal 2013 ended March 30, 2013. Revenues were $8.0 million, down from $10.1 million in the second quarter of fiscal 2012 but indicating a recovery from the $6.6 million recognized in the first quarter of fiscal 2013. Net income was $62,000 or $0.02 per share, compared with net income of $470,000 or $0.14 per diluted share, a year earlier and a net loss of $1.3 million in the first quarter of fiscal 2013. Operating loss was $463,000, including a one-time restructuring charge of $605,000, compared with operating income of $695,000 in the second quarter last year, which included $110,000 in U.K. government grant income. This represents an improvement over the $1.2 million operating loss in the first quarter of fiscal 2013. Loss before income taxes was $576,000 against income before income taxes of $628,000 of prior year period. For the six months, revenues were $14.6 million, compared with $18.6 million in the first six months of fiscal 2012. Net loss was $1.24 million or $0.37 per share, compared with net income of $754,000 or $0.22 per diluted share, for the first six months of fiscal 2012. Operating loss was $1,648,000, which included a one-time restructuring charge of $605,000 in the second quarter, compared with operating income of $947,000 in the first six months of last year, which included $110,000 in U.K. government grant income. Loss before income taxes was $1.98 million against income before income taxes of $1 million of prior year period.

Sevcon, Inc., Q2 2013 Earnings Call, May 08, 2013

Sevcon, Inc. announced that they will report Q2, 2013 results at 5:00 PM, Eastern Standard Time on May 07, 2013