Astro-Med Inc., West Warwick, reports a net loss of $698,000 equal to 16 cents per share on sales of $11,731,000 for the Third Quarter ending October 28. For the corresponding period of the prior year, the company reported a net income of $410,000. During the nine-month period of the current fiscal year, a loss of $272,000 equal to 6 cents per share on sales of $37,325,000 was incurred. For the corresponding period last year, earnings were $410,000, equal to 9 cents per common share on sales of $32,507,000.
“Despite the loss this quarter, Astro-Med remains financially strong, has all the resources necessary to resume its growth and profitability,” Albert W. Ondis, chief executive officer of Astro-Med. “We expect to report a profit for the year, which will be our 25th consecutive year of profitability.”
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