RELM Wireless Q2 sales off YoY

RELM Wireless Corporation (NYSE MKT: RWC) said that for the quarter ended June 30, 2015, sales totaled approximately USD6.6 million, compared with USD9.1 million for the second quarter last year.

Net income for the quarter ended June 30, 2015 was approximately USD78,000, or USD0.01 per basic and diluted share, compared with approximately USD672,000, or USD0.05 per basic and diluted share, for the same quarter last year.

Gross profit margin for the second quarter 2015 was 36.2 percent of sales, compared with 42.8 percent of sales for the same quarter last year. Selling, general and administrative expenses totaled approximately USD2.3 million (34.6 percent of sales) for the second quarter 2015, compared with USD2.8 million (31.3 percent of sales) for the second quarter last year.

RELM CEO David Storey said, “After a strong first quarter, soft demand in the federal, state and local government markets yielded a sales decline in the second quarter, which was the primary contributor to reduced net income. Government procurements can be impacted by various factors including agency budgets and funding priorities, making the timing of orders unpredictable.”

As an American Manufacturer for almost 70 years, RELM Wireless Corporation has produced high‑specification two‑way communications equipment of unsurpassed reliability and value for use by public safety professionals and government agencies, as well as radios for use in a wide range of commercial and industrial applications.