Directed Posts Lower Revenue Income In Q1
By Amy Gilroy -- TWICE, 5/19/2008
VISTA, CALIF. — Directed Electronics announced a 7 percent decline in net security and entertainment product sales for the first quarter, citing a challenging consumer environment.
Directed's pro forma sales were $75.4 million for the quarter ending March 31, compared with $77.9 million for the period last year. It reported a loss of $1.6 million compared with net income of $1.2 million for the period last year.
Definitive's total security and entertainment pro forma product sales declined to $57 million from $61.2 million, said the company. Satellite radio pro forma sales increased 14 percent, with net sales reaching $17.6 million, up from $15.4 million compared with the year ago period.
Operating expenses decreased 13 percent to $25.2 million.
