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Merix Reports Sales and Earnings for the Second Quarter of Fiscal 2003
December 26, 2002 |Estimated reading time: 1 minute
Forest Grove, Ore. -- Merix Corp. has reported results for its second quarter ended November 23, 2002.
Sales for the quarter were $25.9 million, compared to $18.8 million reported for the second quarter of fiscal 2002. The company reported a net loss this quarter of $2.1 million or 15 cents per share, compared to a net loss of $2.7 million or 19 cents per share for the same period last year. The net loss for the second quarter includes a tax benefit of 2 cents per share related to R&D tax credits from prior years. Excluding this tax benefit, the net loss for the quarter would have been 17 cents per share. The net loss for the second quarter last year included a tax benefit of 4 cents per share related to R&D credits from prior years. Sales for the first quarter ended August 24, 2002 were $24.1 million with a net loss of 20 cents per share.
For the third quarter of fiscal year 2003, Merix currently anticipates that sales will be approximately 5 percent lower than the second quarter, with a net loss in the range of 18 to 20 cents per share before the restructuring charge.
Merix Corp. is a leading manufacturer of technologically advanced, multilayer, rigid printed circuit boards for use in sophisticated electronic equipment. For more information, visit www.merix.com.