R&D expenses were 10.7% of sales
Aastra Technologies has reported total sales of $162.7m for the first quarter of 2011, a marginal decrease of 5% compared to $171.1m for the same quarter in 2010.
The company’s gross margin was 42.5% of sales in the first quarter as compared to 43.9% of sales in the same period last year.
The company said that the decrease in gross margin was a result of the combined effect of higher inventory provisions and lower material margins in the first quarter this year compared to the previous one.
The R&D expenses in the first quarter were $17.4m or 10.7% of sales, as compared to $18.5m or 10.8% of sales in the same quarter of 2010.
Aastra’s profit decreased in the first quarter 2011 to $0.2m or $0.01 diluted earnings per share, compared to $4.1m or $0.29 diluted earnings per share in the same period in 2010.
Cash and short-term investments totaled $83.3m at the end of March 2011, compared to $94.9m at 31 December 2010.
During the first quarter of 2011, the company used $9.5m of cash flow in operations.