CMRO News .10 Comarco Reports First Quarter Fiscal

CMRO News .10 Comarco Reports First Quarter Fiscal 2013 Financial Results

2012-06-14 18:00 ET - News Release

LAKE FOREST, Calif., June 14, 2012 /PRNewswire/ -- Comarco, Inc. (OTC: CMRO.PK) today announced its financial results for the first fiscal quarter ended April 30, 2012.  The Company also filed its Quarterly Report on Form 10-Q for the first quarter of fiscal year 2013 with the Securities and Exchange Commission today.

Revenue for the first quarter of fiscal 2013 was $2.2 million, a decrease of 25% compared with $2.9 million in revenue for the first quarter of fiscal 2012.  The Company reported a net loss for the first fiscal quarter of $0.7 million, or $0.10 per share. This compared with a net loss of $1.3 million, or $0.17 per share, in the first quarter of fiscal 2012.

Selling general and administrative expenses were $0.5 million in the first quarter of fiscal 2013, a decrease of $0.4 million compared to the first quarter of fiscal 2012. Engineering expenses were $0.5 million in the first quarter of fiscal 2013 representing a slight increase compared to the first quarter of fiscal 2012.

"The first quarter results were in line with our expectations as we continue our efforts to position Comarco for future growth.  We continued to invest in the development of creative marketing strategies to build brand awareness and to drive consumers to our direct-to-consumer website www.chargesource.com .  At the same time, we continue to actively manage our operating expenses," said Tom Lanni, the Company's President and CEO. "Additionally, we are continuing our efforts that we began last fiscal year to pursue patent infringers in an effort to monetize the value of our extensive patent portfolio."