Digital Power Corp.'s revenues for the first quarter ended March 31, 2013 were $2,189,000, a decrease of 2% from revenue of $2,240,000 for the same quarter ended March 31, 2012. Net income for the quarter ended on March 31, 2013 was $107,000 an increase of 43% from the profit of $75,000 in the quarter ended on March 31, 2012. Gross margin in the first quarter ended March 31, 2013 was 38%, a decrease from 41% reported in March 31, 2012. Lastly, operating income for the first quarter ended March 31, 2013 was $14,000, a decrease of 88% for the same quarter ended March 31, 2012.
Commenting on the results, President and CEO, Amos Kohn, stated: "We experienced an increase in our results for the first quarter from the prior quarter and continue to expand our domestic product portfolio. Our European operations experienced a rebound also from the prior quarter primarily from improvement of the economic environment."
We continue to pursue our strategic plan of developing complete customized power solutions and enhancing our standard product offering with innovative, high density and efficient power supplies at ever increasing power levels. The focus of a complete solution for power applications are well received by our major telecom, medical, military and the industrial vertical markets.
