Solitron second quarter results

Solitron filed it’s form 10-Q today for the second quarter of fiscal year 2013. It’s mostly business as usual: earnings are positive, but far from great. The one noteworthy event is the fact that Solitron bought some shares back this quarter in a privately negotiated transaction. Unfortunately it seems a one time event:

On August 28, 2012, the Company repurchased 99,943 shares of its common stock from a stockholder in a privately negotiated transaction at a price of $2.75 per share. The Company has not adopted a stock repurchase program or plan.

The transaction reduced the total of basic shares outstanding with 4 percent. Its not a lot, but good to see that at least a bit of the cash on the balance sheet is put to use.

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Long Solitron

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