UPDATE: Micron Solutions, Inc. (MICR) Reports Q1 Loss of $0.06

Micron Solutions, Inc. (NYSE: MICR) reported Q1 EPS of ($0.06). Revenue for the quarter came in at $5.12 million.

“The Company improved Adjusted EBITDA(1) in the first quarter as it continues to reduce operating expenses and improve gross margins. In addition, the Company’s total debt (including subordinated debt) decreased by $721 thousand in the first quarter, which is a direct result of reduced capital expenditures and continuing improvements in operating results. We continue to be encouraged by the amount of new activity in our sales pipeline, especially in the medical and defense markets.”

Recent Accomplishments:

• The Company entered into a five-year supply agreement with a large sensor customer.
• The Company completed several new molds for injection molded products.
• The Company successfully shipped its first orders of assembled and packaged Skintact® line of ESICLIP® medical device components for a European based customer. The parts are entirely fabricated at Micron Products and drop-shipped to customers worldwide.
• The Company has received its first orders for precision machined products used by the U.S. Navy.
• The Company reduced total debt by $721 thousand in the first quarter of 2018, including discharging the Company’s subordinated debt.

Outlook:

“The outlook is excellent for new opportunities from medical and defense customers. Micron has demonstrated the unique ability to injection-mold and precision-machine very close tolerance components. These capabilities have strong appeal to manufacturers who require geometric tolerances and features not typically capable with injection molding alone. Based on this outlook, the Company expects that revenue and EBITDA will continue to improve in 2018,” concluded Mr. Emma.

For earnings history and earnings-related data on (MICR) click here.

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