R F Industries (RFIL) swung to a net profit for the quarter ended Apr. 30, 2017. The company has made a net profit of $0.08 million, or $ 0.01 a share in the quarter, against a net loss of $0.11 million, or $0.01 a share in the last year period.
Revenue during the quarter went down marginally by 1.23 percent to $7.64 million from $7.74 million in the previous year period. Gross margin for the quarter contracted 483 basis points over the previous year period to 25.58 percent. Operating margin for the quarter period stood at positive 0.86 percent as compared to a negative 1.01 percent for the previous year period.
Operating income for the quarter was $0.07 million, compared with an operating loss of $0.08 million in the previous year period.
"After a year of losses, we returned to profitability in the second quarter with significantly lower operating expenses. While second quarter sales were slightly down from the same quarter last year, our efforts to reduce overhead, employee count and streamline business operations have paid off with a $567,000 reduction in general and administrative expenses, compared to the second quarter last year," said Howard Hill, Interim president and chief executive officer.
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