Sevcon (SEV) Reports Breakeven Q1
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Sevcon Reports Financial Results for First Quarter Fiscal 2016
February 2, 2016 5:25 PM ESTSOUTHBOROUGH, Mass., Feb. 02, 2016 (GLOBE NEWSWIRE) -- Sevcon, Inc. (Nasdaq: SEV) reported financial results for the first quarter of fiscal 2016 ended January 2, 2016 and the acquisition of Bassi S.r.l.
First-Quarter Fiscal 2016 Results Summary
Revenues decreased $0.8 million, or 8.2%, to $9.1 million, from $9.9 million in the first quarter of fiscal 2015, reflecting continued weakness on the industrials side of the business as a result of macro-economic conditions, partially offset by growth in the on-road and other EV categories. Foreign currency fluctuations decreased reported sales by... More