Micron Solutions, Inc. Reports 2020 First Quarter Results

FITCHBURG, Mass., May 15, 2020 (GLOBE NEWSWIRE) -- Micron Solutions, Inc. (OTCQB: MICR) (the “Company”), a diversified contract manufacturing organization, through its wholly-owned subsidiary, Micron Products, Inc., producing highly-engineered, innovative components requiring precision machining and injection molding, announced results for its first quarter ended March 31, 2020.

In the first quarter 2020, the Company reported $5,233,000 in revenue, as compared to $4,686,000 in the first quarter of 2019, an 11.7% increase. The net loss for the first quarter of 2020 was $285,000 compared to a net loss of $519,000 in the first quarter of 2019. Adjusted EBITDA for the period was $287,000, compared to $203,000 in the first quarter of 2019, a 41.4% increase.  

Outlook:

CEO Bill Laursen commented, “I’m proud of the progress we’ve made over the last year, which shows in our first quarter revenue growth and earnings improvement. Since the onset of COVID-19, we have been operating in an unpredictable period of economic disruption. As an essential services provider we have maintained full production to the medical and military markets while adapting to unfavorable impacts in other markets. Despite these challenges we believe our relationships with our customers have never been stronger.”

About Micron Solutions, Inc.

Micron Solutions, Inc., through its wholly-owned subsidiary, Micron Products, Inc., is a diversified contract manufacturing organization that produces highly-engineered, innovative medical device components requiring precision machining and injection molding.  The Company also contract manufactures components, devices and equipment for military, law enforcement, industrial and automotive applications.  In addition, the Company is a market leader in the production and sale of silver/silver chloride coated and conductive resin sensors used as consumable component parts in the manufacture of integrated disposable electrophysiological sensors.  The Company’s strategy for growth is to build a best-in-class contract manufacturer with a specialized focus on plastic injection molding and highly-engineered medical devices and components requiring precision machining.

The Company routinely posts news and other important information on its websites:

http://www.micronsolutionsinc.com  and http://www.micronproducts.com
 

FINANCIAL TABLES FOLLOW.

 
 
First Quarter 2020 (unaudited)
 
$ In thousands Q1 2020
  Q1 2019
  $  Change
  % Change
Net sales$5,233  $4,686  $547   11.7
Gross profit$738  $654  $84   12.8
  Gross margin 14.1%  14.0%     
Net loss$(285) $(519) $234  
Loss per share$(0.10) $(0.18 )   $ .08    
                         

1 | 2 | 3  Next Page »



Review Article Be the first to review this article
Aldec

 True Circuits: Ultra PLL

Featured Video
Latest Blog Posts
Bob Smith, Executive DirectorBridging the Frontier
by Bob Smith, Executive Director
Virtual 2020 CEO Outlook Set for June 17
Colin WallsEmbedded Software
by Colin Walls
Multiple constructors in C++
Jobs
Software Engineer for EDA Careers at RTP, North Carolina
Senior Layout Engineer for EDA Careers at EAST COAST, California
Senior Analog Design Engineers #5337 for EDA Careers at EAST COAST, California
Senior Application Engineer Formal Verification for EDA Careers at San Jose and Austin, California
Upcoming Events
Sensors Expo & Conference at McEnery Convention Center 150 W. San Carlos Street SAN JOSE CA - Jun 22 - 24, 2020
Nanotech 2020 Conference and Expo at National Harbor MD - Jun 29 - 1, 2020
IEEE Computer Society Annual Symposium on VLSI (ISVLSI) 2020 at Limassol Hotel, Amathus Area, Pareklisia Cyprus - Jul 6 - 8, 2020
57th Design Automation Conference 2020 at San Francisco CA - Jul 19 - 23, 2020



© 2020 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise