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LI company earnings: Hauppauge Digital declares $7.1M loss

Hauppauge Digital Inc., Hauppauge

Developer of digital video and data-broadcast receiver products for personal computers.

 

Year: Ended Sept. 30, 2009

Net income: Loss of $7.1 million, compared with loss of $3 million last year.

Net sales: $59.3 million compared with $89.7 million last year.

Outlook: "With the completion of PCTV Systems integration, the continuing push in new product development at our three R&D facilities, the introduction of Windows 7, the positive sales trends we saw for domestic retail sales in fiscal 2009 and the expense reductions we made in fiscal 2009, we believe Hauppauge is well positioned in both sales channels and our product pipeline to take advantage of the new opportunities created by a recovering global economy," said Ken Plotkin, Hauppauge's chief executive.

Company statement: "Excluding expenses related to the PCTV Systems acquisition and operations, expenses for the fiscal year declined by about $2.8 million compared to fiscal 2008. While we cut expenses, we are cognizant of the fact that we need to continue to maintain our product development programs and other critical parts of our infrastructure for the company to be well positioned when the global economic conditions improve," Plotkin said.

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