WINLAND ELECTRONICS UP IN QUARTER, DOWN IN YEAR
Winland Electronics Inc. reports net sales of $5.1 million for the second quarter ended June 30, an increase of 9.7 percent from $4.7 million for the same period in 1999. For the six months ended June 30, the company recorded net sales of $9.3 million, compared to $11.3 million for the same period in 1999. The increase in net sales for the three months ended June 30 over the comparable quarter last year is the result of increased net sales to key OEM customers as well as sales to new OEM customers. The company also recorded increased net sales of security/industrial products for the second quarter compared to the second quarter last year.
W. Kirk Hankins, CEO and chairman of the board, says, “Although Winland’s sales improved modestly during the second quarter, the company also experienced lower profit margins and higher operating expenses. These cost factors were largely influenced by decisions that support Winland’s long-term objectives to expand OEM market penetration, develop and market new proprietary products, diversify and increase manufacturing capacity, and attract, retain and develop the most valuable pool of employee talent possible.” Winland designs and manufactures custom electronic control products and systems, as well as proprietary products for the security and industrial marketplace.
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