SED International Holdings Inc. (SED) reported a third-quarter net loss $4.2 million compared to income of $0.4 million for the same period last year. Loss per share was $0.83 for the latest-quarter compared to earnings of $0.09 per share for the third quarter last year.
Normalized loss per share for the quarter was $0.82, compared to a normalized net income per share of $0.10 last year.
Gross margin decreased to 3.6% during the quarter compared to 6.2% for the same period last year. The latest-quarter margin was negatively impacted by product mix, lower sales volumes and related product rebates, and non-cash inventory reserves. Last year's gross margin was unnaturally high due to increased margins on hard drives, driven by industry supply constraints.
Net sales were $128.8 million for fiscal 2013 third quarter, which represented a 7.1% decrease over net sales of $138.7 million reported for the same period last year. The decrease was driven by weak demand in U.S. IT storage system products and across Latin American operations.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.