Manchester Equipment Co Inc, the Hauppauge, New York-based computer products reseller and systems integrator, has reported third-quarter net income down 49.4% at $297,000 on revenue up 1.1% at $54.8m. Earnings per share for the quarter dropped 42.9% to $0.04, from $0.07 in the year-ago period. For the nine-month period, net income fell 40.6% to $938,000 on revenue up 10% at $165.7m. Earnings per share dropped 36.8% to $0.12 for the period.
The company says the flat revenue reflects the highly-competitive market for computer products and notes that it is continuing to make investments in personnel and technology to expand its services business as well its e-commerce and internet-based capabilities. Those added costs are reflected in higher selling, general and administrative expenses – which rose about 14% during the quarter to $8.1m. Manchester also notes that its new web site, rolled out in January, had brought in about $3m in orders through April 30.
