Picture 1

NEWS

RELEASE

 

 

 

 

25 Sawyer Passway ● Fitchburg, Massachusetts 01420

Exhibit 99.01

FOR IMMEDIATE RELEASE 

Micron Solutions, Inc. Reports
2017  Second Quarter Results

FITCHBURG, MA, August 11, 2017 – Micron Solutions, Inc. (NYSE American: MICR) (the “Company”), which is, through its wholly-owned subsidiary, Micron Products, Inc., a diversified contract manufacturing organization that produces highly-engineered, innovative medical device components requiring precision machining and injection molding, announced results for its second quarter ended June 30, 2017.  

The Company reported an increase in net sales of 5.1 percent in the second quarter of 2017 as compared to the same period in the prior year.  The increase in net sales in the second quarter was from net sales of sensors and tooling, net of deferred revenue.  The increase was partly offset by decreased net sales of thermoplastic injection molded products, as well as net sales of orthopedic implant components and instruments.



Second Quarter 2017 Review





 

 

 

 

 

 

 

 

 

 

$ In thousands

Q2 2017

 

Q2 2016

$  Change

% Change

Net sales

$

5,391 

 

$

5,129 

 

$

262 

 

5.1% 

Gross profit

$

382 

 

$

945 

 

$

(563)

 

(59.6%)

  Gross margin

 

7.1% 

 

 

18.4% 

 

 

 

 

Net income (loss)

$

(511)

 

$

62 

 

$

(573)

 

 

Diluted earnings (loss) per share

$

(0.18)

 

$

0.02 

 

$

(0.20)

 

 



During the period, the Company incurred extraordinary costs related to the start-up of a number of new customers.  These costs included increased scrap, tooling, labor, rework, expediting charges from suppliers, shift premiums and overtime, in order to meet customer delivery requirements.  The Company also made the strategic selling decision to take on a large order at aggressive initial pricing in order to land follow-on orders with lower material costs.  The Company was successful in booking the follow-on orders with the lower material costs and has mitigated the additional costs from the start-up of these new products”, commented Salvatore Emma Jr., the Company’s President and CEO.

Gross profit decreased in the second quarter of 2017 as compared with the same period in the prior yearThe decrease in gross profit was primarily from orthopedic implant components and instruments as well as thermoplastic injection molding, partially offset by higher gross profit from sensors.

EBITDA(1) (income from continuing operations adjusted for income taxes, other income and expense, interest, depreciation and amortization, and share-based compensation expense) for the second quarter of 2017 was ($10) thousand compared with $501 thousand for the same period in 2016(1)See attached table for additional important disclosures regarding the Company’s use of EBITDA, as well as a reconciliation of net income (loss) from continuing operations to EBITDA.

-MORE-


The following information was filed by Micron Solutions Inc (MICR) on Friday, August 11, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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