Micron Solutions looks to 2020 growth after down Q2
Photo | City of Fitchburg
Micron Solutions' facility in Fitchburg
Fitchburg contract manufacturer Micron Solutions opened Thursday trading to a small bump despite releasing second-quarter earnings down 8% from last year.
The company said it made $4.9 million in the quarter compared to $5.3 million for the same period last year.
Net loss was $471,000, compared to a small profit for last year’s period of $34,000.
Micron's stock on the New York Stock Exchange opened up 2.3% at $2.45 per share after closing at just under $2.40 on Wednesday.
Despite those declines in business, the company said its outlook is improving. That includes securing commitments from a new customer expected to lead to 20% revenue growth in 2020 and the scaling up the company’s management team.
The personnel moves included the July hire of CFO Wayne Coll, a seasoned finance chief coming from the medical device sector with a focus on scaling operations for growth, mergers and acquisitions.
The company in June sold two unoccupied buildings for $685,000. However, that announcement came shortly after the New York Stock Exchange notified the company it wasn’t in compliance with its listing standards and would initiate delisting procedures by December if the company didn’t regain compliance.
WBJ Web Partners
Most Recent
Most Recent
0 Comments