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November 19, 2008

Jaco Electronics Sales Down in 1Q

Electronics distributor Jaco Electronics, Inc. reported sales in the first quarter ended Sept. 30, 2008, were $47.8 million, compared with $49 million in the year-ago period.
 
The distributor recorded a net loss of $15.1 million in the period, compared with a net loss of $181,000 the previous year.
 
Jaco recorded a non-cash goodwill impairment charge of $15.4 million. The company is selling its non-Flat Panel Display components business to WPG Americas Inc.
 
Jaco is a distributor of electronic components to industrial OEMs and contract manufacturers. Jaco distributes products such as semiconductors, capacitors, resistors, electromechanical devices, flat panel displays (FPD) and power supplies, which are used in the manufacture and assembly of electronic products.

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