Aeroflex Q2 Profit Rises, Sales Slide - Quick Facts

(RTTNews) - Aeroflex Holding Corp. (ARX), a provider of high performance microelectronic components as well as test and measurement equipment, Friday said second quarter net income increased to $1.127 million from $745 thousand in the prior year. Earnings per share was flat with last year at $0.01.

Non-GAAP net income was $9.25 million or $0.11 per share, while it totaled $8.7 million or $0.10 per share last year.

Income from continuing operations climbed to $1.13 million from $173 thousand.

Net sales slipped to $151.11 million from $151.87 million in the second quarter of fiscal 2013. On average, five analysts polled by Thomson Reuters expected revenues of $149.20 million for the quarter.

Len Borow, CEO, said, "This quarter we regained our momentum across many of our core growth markets...Our strong bookings and market momentum are positioning us well to drive a very strong second half of fiscal 2014."

For the third quarter, Aeroflex expects net sales to be between $155 million and $162 million and Non-GAAP net income per share to be between $0.11 and $0.14. Analysts look for sales of $159.00 million.