Appoint Technologies Inc.: The Anaheim maker of...
Appoint Technologies Inc.: The Anaheim maker of electronic products reported a profit of $122,281, or 1 cent a share, for its fiscal second quarter that ended April 30. For last year’s second quarter, it lost $134,997, or 1 cent a share. Quarterly net sales soared to $1.3 million from $95,068.
For its fiscal first six months, the company posted net income of $1.5 million, or 10 cents a share, compared with a loss of $127,366, or 1 cent a share, for the similar period last year. Net sales rose to $1.9 million for the period from $246,582 last year.
The company’s quarterly results included a gain of $1.7 million from the disposal of assets of discontinued operations.
Wes Baumgardner, the company’s chairman, attributed the improved operating performance to a 44% reduction in overhead expenses and a healthy performance by the recently acquired AMT StarComm Inc.