Albert W. Ondis, chief executive officer of Astro-Med Inc., said the West Warwick company remains on “recession watch” after reporting reduced second-quarter profits.
The company said net earnings were $585,000, or 8 cents a share, down from the $1.2 million, or 15 cents a share, earned in the year-ago period. Sales were $16.4 million, down from $19.8 million a year ago. The company (ALOT:Nasdaq) said unfavorable foreign exchange currency rates lowered second-quarter sales by approximately $446,000, or 2.7 percent.
“Although there are signs that our markets are recovering, and we expect to report continued improvements as the year progresses, we will continue our recession
Tuesday, September 1, 2009
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