WICHITA, Kan.-Citing a “persistent weakness in the global test equipment market,”
IFR Systems Inc. announced results for the second quarter of fiscal 1999, which ended Dec. 31, of a net loss of
$401,000, or 5 cents per share, compared with a net income of $2.2 million reported in the corresponding quarter a year
before.
The net loss was an improvement, though, from the first quarter of the fiscal year, during which the
company posted a net loss of $1.6 million, or 20 cents per share.
IFR President and Chief Executive Officer Alfred
Hunt III said a cost-reduction program has been put in place with expectations the company will return to profitability
by the third quarter.
