Micronet Enertec Technologies Q2 revenue dips YoY

Micronet Enertec Technologies, Inc. (NASDAQ: MICT) said its total revenue decreased 13 percent to USD5.7 million, as compared to USD6.6 million in the second quarter of 2014.

The company said the decline was mainly due to a decrease of USD736,000 in its aerospace and defense division.

Gross profit margin was 32 percent, as compared to gross margin of 28 percent in the second quarter of 2014.

R&D expenses for the quarter were USD723,000, or 12.6 percent of sales, compared to USD874,000, or 13.2 percent of sales, in the second quarter of 2014.

The company reported an operating loss of USD671,000, as compared to an operating loss of USD1.1 million in the second quarter of 2014.

Micronet Enertec Technologies operates through two primary companies, Enertec Systems 2001 Ltd its wholly-owned subsidiary, and Micronet Ltd, in which it has a controlling interest.