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5 years ago
Hemisphere GPS posts loss as US drought hurts sales
August 1, 2012 / 11:30 AM / 5 years ago

Hemisphere GPS posts loss as US drought hurts sales

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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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