Wednesday, May 13, 2009, 2:22pm MST
Phoenix Business Journal
White Electronic Designs Corp. posted second-quarter net income of $136,000, or 5 cents a share, on increased revenue.
The Tempe-based company’s (Nasdaq:WEDC) profit compares with a $1.5 million net loss in the same quarter last year. Revenue increased to $17.1 million for the quarter, up from $14.6 million last year.
White completed the sale of its display systems division in early April, and earlier this year finalized the sale of its commercial microelectronics product lines.
“We are pleased with the results of the quarter,” said CFO Roger Derse in a statement. “We had strong double-digit revenue growth driven by continued strength in our anti-tamper business.”
Although sales are increasing, the company’s strategic alternatives committee continues to consider the future at White Electronic Designs. That could include continuing on as a public company, being sold or merged, or finding an investor.
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