RF Monolithics, Inc., Dallas, today reported sales for the first quarter ended November 30, 2000, of $12.2 million, compared to $9.3 million in the first quarter of the prior year. The company reported a net loss of $1.3 million or 21 cents per diluted share for the first quarter, compared to a net loss of $3.9 million or 68 cents per diluted share for the first quarter of the prior year.
First quarter results for the prior year were adversely affected by a management decision to limit turns business in that quarter, the company said.
President and CEO of RF Monolithics, Inc., David M. Kirk, commented, "During the first quarter we focused a great deal of our attention on securing adequate sources of funds toexecute our recovery and growth plans. As these activities are now completed, we are turning our full attention to implementing the remaining elements of our recovery plan, namely insuring adequate assembly capacity and improving profit margins which require the use of funds recently raised.
"We continue to experience record bookings and believe these strong bookings and a record backlog of orders demonstrate the growing demand for our products in the rapidly expanding communication markets. Our primary focus must now be to meet our customer's requirements with high quality products in a timely manner."