Revenue down 53%
Phazar, a manufacturer of antenna systems and wireless mesh network services, has posted a net loss of $241,039, or $0.10 per share, for the third quarter of fiscal 2009, compared to a net income of $334,267, or $0.14 per share, for the same period in fiscal 2008.
The company posted revenues of $1.5m for the third quarter of fiscal 2008, down 53% compared to $3.2m in the same period of 2007.
The company reported revenues for the first nine-month of fiscal 2009 of $5.6m, a decrease of 17 % compared to $6.8m for the comparable period of fiscal 2008. Net loss for the nine month period was $299,950, or $0.13 per share, compared to a net income of $624,733, or $0.27 per share, for the comparable period in fiscal 2008.
Garland Asher, chairman and CEO of Phazar, said: US Government and related contracting activity can fluctuate significantly from quarter to quarter. This has been particularly apparent during the current change in administration process and during a period of time where current year budget issues have yet to be resolved. However, after very subdued contract activity levels during the fall and into January 2009, a more normal pace appeared to be resuming in February 2009.