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Article: Hi-Shear Announces First Quarter Results.(Financial report)

Article from:
Business Wire
Article date:
October 15, 2009
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TORRANCE, Calif. -- Hi-Shear Technology Corporation (NYSE Amex: HSR) today announced results for its first quarter of fiscal year 2010 ending August 31, 2009. Revenues recognized during the first quarter were $5,498,000 compared to the revenues of $6,044,000 for the same period last year. Revenues, which are calculated by the Company on a percentage-of-completion basis, were reduced from last year's first quarter because less direct costs were incurred including labor, overtime and materials, resulting from some previous customer delays in releasing their requirements to the Company. These orders have since been received and efforts to deliver those orders are ongoing. ... 







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