(RTTNews) - RF Industires Ltd. (RFIL) reported Friday a net loss of $50,000 or $0.01 per share in the fourth quarter, compared to $0.4 million or $0.07 per share last year.
The company attributed the loss to reduced sales at RF Connector and Cable, professional fees of approximately $0.17 million associated with the acquisition of Cables Unlimited, resolution of certain shareholder issues and expenses of $0.1 million related to the Cables Unlimited transaction.
Net sales increased 19 percent to $5.9 million from $5 million in the prior-year quarter.
RF Industries said that it expect the continuing business, including the newly acquired Cables Unlimited division and increased sales from RadioMobile's recently announced contract with the Los Angeles County Fire Department, to have a positive impact on the company's revenue.
"Based on these factors, we are reiterating our January 9, 2012 guidance for annual sales of $24 to $26 million and earnings of approximately $0.27 to $0.30 per diluted share in the current fiscal year." said Howard Hill, CEO of RF Industries.
RF Industries manufactures, designs and distributes Radio Frequency connectors, cables and other related products.
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