Black Box reports net loss of $27.9M
LAWRENCE (AP) – Black Box Corp. Tuesday reported a fiscal third-quarter loss of $27.9 million, after reporting a profit in the same period a year earlier.
The Lawrence-based company said it had a loss of $1.85 per share. Losses, adjusted for pretax expenses and non-recurring costs, were 31 cents per share.
The communications equipment supplier posted revenue of $194.9 million in the period.
Black Box CEO Joel Trammell said in a statement the company remains committed to its Intelligent Digital Edge strategy, which he said will be the cornerstone for future growth.
While acknowledging the company is working on liquidity challenges, he said, “I remain excited about our future. The changes in our industry create tremendous opportunities for us, and that is why I accepted the challenge to lead Black Box. We have a lot of work to do to capitalize on these growing markets and to streamline our organization to efficiently deliver our solutions, and I am confident that we have the team and plans in place to accomplish those objectives.”