IMPCO Reports Second-Quarter Fiscal 2002 Results
IMPCO Technologies Inc. (Cerritos, CA) reported results for its fiscal second quarter ended October 31, 2001. For the second quarter of fiscal 2002, IMPCO reported a net loss of $8.7 million, or $0.83 per share, on revenues of $24.1 million. This compared to a net loss of $1.4 million, or $0.13 per share, for the second quarter of fiscal year 2001 on revenues of $25.4 million.
For the six-month period ended October 31, 2001, IMPCO reported a net loss of $14.3 million, or $1.37 per share, on revenues of $49.9 million. This compared to a net loss of $2.0 million, or $0.21 per share, for the six months ended October 31, 2000, on revenues of $54.6 million.
Robert Stemmler, CEO and chairman, said, "On a quarter-over-quarter basis, the company's consolidated product revenues increased, which occurred during a very difficult quarter for the economy and the world. Revenue growth at Quantum and our industrial engine systems division, and in our Mexican and India motor vehicle markets, offset the decline in our economy-related core business sales. We believe continued growth from these markets will help offset the revenue downturn in our economy-related markets."