Pulse Electronics Corp., a San Diego manufacturer of electronic components, reported first quarter net sales of $84.8 million, down 9.9 percent from the like quarter in 2012.
Operating profit for the business that does all its manufacturing in China was $1 million compared with an operating loss of $2.1 million in the like quarter of 2012.
Pulse Chairman and CEO Ralph Faison said the quarter’s results demonstrate the ongoing progress in improved operating performance. After two years of major restructuring, the company realized notable gross profit margin improvement in the last quarter that continued into the current quarter, he said.
Pulse Electronics said it expects second quarter revenue to range from $85 million to $91 million, and for operating profit to finish in a range of breakeven to a profit of $2 million.
— SDBJ Staff Report