WPCS International Inc. (WPCS) reported a second-quarter net loss of $493,000 or $0.07 per share, compared to a net loss of approximately $1.7 million or $0.24 per share, for the same period a year ago.
The latest-quarter result included a loss from discontinued operations of approximately $573,000 related to the asset sale of the Hartford and Lakewood Operations. The last year result included a loss from discontinued operations of approximately $1.3 million, or $0.19 per diluted share, primarily related to the sale of the St. Louis and Sarasota Operations.
Revenue for the quarter declined to $9.94 million from $21.75 million last year.
The company reaffirmed that it remains on target to achieve revenue of $60 million and EBITDA of $1 million for this fiscal year ending April 30, 2013.
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