With its sale close, Hytek reports loss

Share this: Email | Facebook | X

Hytek Microsystems of Carson City lost $400,000 on revenues of $2.5 million in the quarter ended Jan.

31.

This compares with a loss of $580,000 on revenues of $2.6 million in the comparable quarter a year earlier.

Hytek expects to complete a merger with California-based Natel Engineering Co.

Inc.

during the second quarter.

After the merger, Hytek no longer will be publicly held.

For its fiscal year ended Jan.

31, Hytek reported a loss of $549,000 on revenues of $10.1 million.

A year earlier, it lost $970,000 on revenues of $10.2 million.

The company noted that an increased portion of its business during the most recent fiscal year came from Medtronic A/S, but Medtronic in January said it wouldn't be buying from Hytek any longer.

Another major customer, Chesapeake Science Corp., scaled back its purchases of military-related products from Hytek during the year.

Hytek makes hybrid microelectronic circuits that are used in military,medical and other applications.

Comments

Use the comment form below to begin a discussion about this content.

Sign in to comment