Emrise Corporation (OTCMKTS:EMRI): Results of Third Quarter and Nine-Month

On November 14, 2013,Emrise Corporation (OTCMKTS:EMRI)announced its financial results for the 3rd quarter and period of 9 months ended September 30, 2013.

Chairman and CEO Carmine T. Oliva said, “Even though net sales for the third quarter and first nine months of this year fell short of our expectations, the rate of incoming orders was strong during the quarter. As a result, we ended the quarter with a solid backlog.”

The amount of overall net sales in the 3rd quarter was $6.6 million as compared to $8.2 million in the same 3rd quarter of a year ago. For the period of first 9 months of 2013, the amount of net sales was $22.4 million as compared to $24.4 million in the last year’s first 9 months period.

The amount of loss from operations during the 3rd quarter of 2013 was $0.122 million as compared to the amount of net income from operations for an amount of $0.216 million in the 3rd quarter of previous year. Loss from operations for the period of first 9 months of 2013 was $0.415 million which indicates an improvement of $0.135 million as compared to loss from operations of $0.55 million for the same period of first 9 month of last year. The amount of operating expenses in the 3rd quarter and for the period of first 9 months was $2.2 million and $7.3 million respectively as compared to $2.3 million and $7.5 million respectively, for the same period a year ago.

The amount of net sales of the company for its Electronic Devices segment in the 3rd quarter was $4.9 million as compared to $6.1 million for the same 3rd quarter a year ago. For the period of first 9 months of this year, the net sales of the company in the Electronic Devices segment were $15.0 million as compared to $17.5 million for the period of same first 9 months a year ago.

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