Digital Power Reports on Q2 1999 ResultsAugust 23, 1999 by Jeff Shepard
Digital Power Corp. (Fremont, CA) reported revenues for the second quarter ended June 30, 1999, of $4,332,948, a 5.3 percent decrease from $4,575,030 for the same period last year. Net income was $60,501, or $0.02 per share, compared with $4,417 for the same period a year ago. For the six months ended June 30, 1999, revenues fell 21.6 percent to $7,549,411, from $9,630,361 for the year-ago period. Net loss was $95,035, compared to net income of $298,850 last year. "Following the previous two quarters' losses, we are delighted to be able to return to profitability in the second quarter," stated President, CEO and Chairman Robert O. Smith. "Compared to the first quarter ended March 31, 1999, revenues were up by 34.7 percent in the second quarter ended June 30, 1999. Going forward it is imperative that we continue to invest in new product development and promotion. We are confident that these initiatives will ultimately return Digital Power to its historical growth rates."