Koss Corporation (KOSS) Reports Q4 Earnings, Declares Dividend; CEO Comments on Outlook

July 14, 2008 5:21 PM EDT

Koss Corporation (NASDAQ: KOSS) reports Q4 EPS of $0.34 compared with $0.38 for the same reporting period one year ago.

Sales for the fourth quarter rose 10% to $12,202,642 compared to $11,052,884 for the same period one year ago.

"We expect our development and engineering expenses to continue next year," Koss confirmed, "and we are aware of the effect that these expenses and the promotional activities are having on our net income. We believe that it is an important time to continue these initiatives as investments in our future."

Koss went on to say that the Company's outlook for the 2008-2009 year was extremely guarded.

"We would be foolish to ignore the daily headlines and the impact that rising oil prices and the real estate/credit melt down are having on consumers," Koss said. "We are also very cognizant of the fact that Europe is feeling the same intense pressure and that many of our Asian suppliers are experiencing cost increases that they would like to pass along to us. It's also tough to remain bullish in an election year when one party is touting higher taxes as a solution to economic woes. Our response is to remain as nimble as possible and focused on our business and our future. We will continue to remain as prudential with our resource allocations as possible."

Koss Corporation will pay a quarterly dividend of $0.13 cents per share on July 15, 2008, to shareholders of record on June 30, 2008.

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Dividends
Earnings
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