Zareba Q4 operating income falls from last year
Shares of Zareba Systems, Inc. (Nasdaq: ZRBA) are falling today after the manufacturer of electronic perimeter fence and security systems for animal and access control reported income from continuing operations for its fiscal fourth quarter fell slightly from last year’s level.
For the three months ended June 30, 2007, income from continuing operations was $702,000, or $0.28 per diluted share, compared with income from continuing operations of $744,000, or $0.30 per diluted share, in the fourth quarter last year.
The Minneapolis, Minn.-based company said it completed the sale of its medical products subsidiary, Waters Medical Systems, Inc., to a third party as of Aug. 1, and as a result operations and assets and liabilities of WMS for its fourth quarter and fiscal year have been restated and classified as discontinued operations.
Net income was $776,000, or $0.31 per diluted share, compared with net income of $773,000, or $0.31 per diluted share, in the fourth quarter of fiscal 2006.
Sales edged up slightly. Net sales for the fourth quarter increased 5% to $12.4 million, compared with sales of $11.9 million for the same quarter last year.
For the small cap’s fiscal year 2007, the company noted the main developments for the year were increased sales and a return to profitability, the return to its core business with the sale of its medical division and increased sales of new products.
For the fiscal year 2007, net sales increased 10% to $35.7 million from $32.3 million last year.
Income from continuing operations was $372,000, or $0.15 per share, compared with a loss from continuing operations of $640,000, or $0.26 per share, last year.
Net income was $610,000, or $0.25 per share, compared with a net loss of $301,000 or $0.12 per share in 2006.
Shares of Zareba (ZRBA) fell $0.79, or 10.99%, to $6.40 in midday trading Wednesday.
