Solitron Devices, Inc. Reaffirms Earnings Guidance for the Fiscal Year 2021
September 25, 2020 at 03:47 pm IST
Share
Solitron Devices, Inc. reaffirmed earnings guidance for the fiscal year 2021. Net sales in line with previous expectation of approximately $10.5 million in fiscal 2021. Expect a meaningful improvement in net income from fiscal 2020. The company's expectation of a material improvement in net income for fiscal 2021 is based on fiscal 2020 results, which are still subject to completion of the company's audit, resulting in a net loss of $0.5 to $0.6 million; the strong results in the first two quarters of fiscal 2021; the assumption of a few months of losses due to the resurgence of the coronavirus; and the assumption of fiscal 2021 fourth quarter results being comparable to the first quarter. Obviously projected results for the third and fourth quarters of fiscal 2021 are subject to substantial change due to uncertainty related to the coronavirus.
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. 
