Hemisphere GPS posts loss as US drought hurts sales
Aug 1 (Reuters) - Hemisphere GPS Inc, which makes GPS systems for agriculture and marine markets, reported a quarterly loss on a severe drought in the United States, its biggest market.
Net loss was about $400,000, or 1 cent per share, in the second quarter, compared with a profit of $800,000, or 1 cent per share, a year earlier.
Revenue for the company dropped 3 percent to $19.6 million, with U.S. sales falling 14 percent.
Shares of the Calgary-based company closed at 68 Canadian cents on Tuesday on the Toronto Stock Exchange.
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