Despite a surge in sales of its filter products, RF Monolithics Inc. yesterday reported a loss of $1.4 million, or 23 cents per share, for the second quarter ended Feb. 29.
The Dallas-based supplier of SAW components and modules said the loss compares with net income of $645,000, or 11 cents per share, for the same quarter last year. The loss for the quarter was 1-cent less than analysts' estimates.
Sales for the quarter dropped 6.9% to $12.2 million, from $13.1 million a year ago. Gross margin for the quarter was 11.2%, compared with 35% for the same period in 1999.
For the six months ended Feb. 29, sales dropped 20.9% to $21.5 million, from $26 million for the same period last year. RF Monolithics' net loss at the same time was $5.3 million, or 89 cents per diluted share, compared with a profit of $1.6 million, or 27 cents per share, the previous year.
David Kirk, president and chief executive, said the company is continuing with programs initiated over the past year that focus on improving operations and capacity.
"We are optimistic these strategic programs will continue to be effective in returning the company to a strong growth track and profitability," Kirk said in a statement last night.
During the quarter, sales of the company's filter products rose 13%, while sales of its short-range radio systems jumped 45% over last year. However, revenue from its low-power components dropped 14%, which the company said was due to lower average selling prices on flat volume.