Solitron Devices, Inc. Provides Earnings Guidance for the Fourth Quarter and Fiscal Year 2023 and First Quarter of Fiscal Year 2024
June 17, 2023 at 03:15 am IST
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Solitron Devices, Inc. provided earnings guidance for the fourth quarter and fiscal year 2023 and first quarter of fiscal year 2024. For the fourth quarter of 2023, the company's net sales are expected to decrease 24% to approximately $1.50 million versus $1.98 million in the fiscal 2022 fourth quarter and Net income is expected to increase to $0.23 million, or $0.11 per share versus a loss of ($0.46 million), or ($0.22) per share, in the fiscal 2022 fourth quarter.
For the fiscal year 2023, the company's Net sales are expected to decrease 48% to approximately $6.41 million versus $12.28 million in fiscal 2022 and Net income is expected to decrease 76% to $0.83 million, or $0.40 per share versus $3.51 million, or $1.68 per share, in fiscal 2022.
For the first quarter of 2024, the company's Net sales are expected to decrease 6% to approximately $2.00 million versus $2.14 million in the fiscal 2023 first quarter.
Solitron Devices, Inc. designs, develops, manufactures and markets solid state semiconductor components and related devices primarily for the military and aerospace markets. The Company manufactures a variety of bipolar and metal oxide semiconductor (MOS) power transistors, power and control hybrids, junction and power MOS field effect transistors (Power MOSFETS), and other related products. Its products are custom made pursuant to contracts with customers whose end products are sold to the United States government. Other products, such as Joint Army/Navy (JAN) transistors, diodes and Standard Military Drawings (SMD) voltage regulators, are sold as standard or catalog items. The Company manufactures thick film hybrids, which generally contain discrete semiconductor chips, integrated circuits, chip capacitors and thick film or thin film resistors. Its hybrids include high power voltage regulators, power amplifiers, power drivers, boosters and controllers.
SOLITRON DEVICES, INC. 