Parlex reports Q3
May 13, 2005
Parlex Corporation (NASDAQ:PRLX) reported financial results for the third quarter of fiscal year 2005. Revenues increased 26% to $29.1 million compared with $23.2 million for the same period in the previous year. Revenues for the third quarter decreased 4% sequentially from $30.2 million for the prior quarter.
Operating loss was $1.5 million for the quarter compared to an operating loss of $1.9 million for the same period in the prior year. Net loss for the quarter, attributable to common stockholders, was $2.3 million or ($.36) per diluted share versus $2.6 million or ($.40) per diluted share for the third quarter of fiscal 2004. The net loss in the third quarter of 2005 includes cash and non-cash related interest expense associated with our re-financing activities and minority interest associated with our partner in China. No tax benefit was recorded on U.S. net operating losses in the quarter.
Revenues for the first nine months of fiscal 2005 were $90.8 million versus $66.4 million for the same period in fiscal 2004, an increase of 37%. The net operating loss for the nine months of fiscal 2005 was $2.0 million compared to $4.6 million in the prior year. Net losses attributable to common shareholders totaled $4.7 million or ($0.73) per diluted share for the first nine months of fiscal 2005 versus $6.6 million or ($1.04) for the same period last year.