Technology Research (TRCI) Reports a Q4 Loss
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Technology Research Corporation (NASDAQ: TRCI) reports a Q4 loss of $0.15 compared to a loss of $0.08 for the same period last year.
Revenues for the fourth quarter were $9.0 million, an increase of $.1 million or 1% from the $8.9 million reported in the same quarter last year.
Fourth quarter fiscal 2008 results were negatively impacted by $1.7 million of inventory related write downs. For all of fiscal 2008, the Company wrote down $2.0 million of inventory. The 2008 write-down was primarily related to reduction in demand and selling price for room air conditioner (RAC) products. We believe our inability to sell the product was greatly influenced by lost sales to a competitor who the Company believes is infringing on TRC intellectual property. [SM]
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