Brajdas Corp. Shows 99% Drop in 1st-Quarter Profit
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Brajdas Corp., a Woodland Hills distributor of electronic components, said its fiscal first-quarter profit plunged 99% from a year earlier on a 4% drop in sales.
In the three months that ended May 31, Brajdas’ net income dropped to $5,728 from $991,741 a year earlier while its sales slipped to $15.6 million from $16.3 million.
Brajdas blamed the results on slowing sales of semiconductors and other components, and a continuing erosion of pretax profit margins.
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