Revenue during the quarter went down marginally by 2.46 percent to $6.62 million from $6.78 million in the previous year period. Gross margin for the quarter contracted 176 basis points over the previous year period to 28.06 percent. Operating margin for the quarter stood at negative 5.43 percent as compared to a negative 8.42 percent for the previous year period.

Operating loss for the quarter was $0.36 million, compared with an operating loss of $0.57 million in the previous year period.

Howard Hill, Interim president and chief executive officer said, "The first quarter is typically our weakest quarter, so we are pleased with the 36% increase in net sales from the RF Connector division. Higher sales of DAS products and a modest firming in demand for RF Connector products is encouraging for the remainder of fiscal 2017. While the Custom Cabling segment is being affected by weakness in the telecom industry, the data center market and increased off-shore competition, we are working to improve sales and control expenses for this segment. We are cautiously optimistic that these efforts, combined with reducing annual Company-wide expenses by our goal of approximately $750,000 in the current fiscal year, can lead to improved results for the remainder of fiscal 2017."

Cash conversion cycle (CCC) has decreased to 89 days for the quarter from 158 days for the last year period. Days sales outstanding were almost stable at 53 days for the quarter, when compared with the last year period.

Days inventory outstanding has decreased to 63 days for the quarter compared with 135 days for the previous year period. At the same time, days payable outstanding went down to 28 days for the quarter from 30 for the same period last year.