Koss Corporation (KOSS) Reports Q3 Earnings
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Koss Corporation (Nasdaq: KOSS) reports Q3 EPS of $0.20 compared to $0.40 for the same period last year.
Sales for the third quarter dropped 27% to $9,601,291 compared to $13,222,496 for the same period one year ago.
"This has been a difficult and disappointing quarter following last year's record performance," Michael J. Koss, President and CEO told employees here today. "35% of the decline in sales is directly attributable to reductions in shipments of stereo headphones to automotive companies to include with the production of their cars. Since the production of specific automobile models that include audio/video components has been reduced, the Koss stereophones that are included with each car have not been ordered to match production."
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