Micronetics Reports $32.6M in Net Sales, an Increase of 38%, for FY2008

Micronetics, Inc. (NASDAQ:NOIZ) today reported results for its fourth quarter and fiscal year ended March 31, 2008 ("FY2008"). The results of MICA Microwave, Inc. are included from the acquisition date of June 5, 2007. Net sales were $7,723,015 for the quarter ended March 31, 2008, an increase of $1,410,698 or 22% as compared to $6,312,317 for the quarter ended March 31, 2007. For FY2008, the Company reported net sales of $32,624,946 as compared to net sales of $23,690,236 for FY2007, an increase of $8,934,710 or 38%. For the quarter ended March 31, 2008, the Company reported net income of $303,097 or $0.06 per diluted share as compared to net income of $340,064 or $0.07 per diluted share, for the quarter ended March 31, 2007. For FY2008, net income was $ 1,662,383 or $0.34 per diluted share, as compared to net income of... [read full story]