ModusLink Global Solutions, Inc. (MLNK) reported for the first quarter net income of $8.56 million or $0.19 per share, compared to a net loss of $18.64 million or $0.41 per share in the same period a year ago.
Quarterly revenues dipped 15.4% to $246.69 million from $291.41 million in the comparable period last year.
Operating income for the first quarter of fiscal 2010 improved to $11.6 million, compared to an operating loss of $10.8 million in the first quarter of fiscal 2009. The company noted that the improvement was due to better gross margin, a 26.1% reduction in Selling General & Administrative expenses and significantly lower restructuring costs compared to the year ago period.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.