April 27, 2013

Koss reports flat sales, lower earnings in 3Q

Koss Corp. reported flat sales Thursday for its fiscal third quarter, but earnings dropped 87.1 percent because of unique circumstances last year involving the Sue Sachdeva case.

Sales were $8.3 million for the quarter ending March 31, a slight increase from $8.2 million a year previously. Net income was $115,000, or 2 cents per share, compared with $897,000, or 12 cents per share, a year ago.

The quarter compared unfavorably with last year, when Koss recovered $726,000 of the estimated $34 millionâ;€¦;

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