CRL/Orban Sales Drop; Company Cites Demand

Circuit Research Labs Inc. reported net sales during the three and six months ended June 30 as $2.8 million and $5.7 million respectively. That compares to $4.0 million and $7.9 million during the same periods in 2001. CRL states in its latest SEC filing the drop was “primarily attributable to a decrease in demand for our product”. The Orban division reported net sales for the three and six months ended June 30 as $2.6 million and $4.8 million, respectively, compared to $3.7 million and $7.3 million for the same periods in 2001. The company attributes the drop to a 53% drop in demand by its single largest customer during the three months ended June 30 and 58% for the six months ended June 30 when compared to the same periods in 2001.