SED International Holdings Inc. (SED: Quote) reported that its fourth-quarter net loss was $2.0 million or $0.41 per share, compared to net income of $0.4 million or $0.09 per share in the same quarter last year.
Operating loss for the quarter was $1.7 million, compared to an operating income of $0.9 million in the prior year period.
Net sales for the quarter declined to $131.8 million from $152.6 million in the prior year quarter. An Industry-wide decline in technology and consumer electronics demand, coupled with lingering effects from hard drive shortages, negatively impacted net sales in the fourth quarter compared to the prior year.
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by RTT Staff Writer
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