Revenue for the second quarter was $53.8 million, up $11.0 million from the first quarter and down from last years record second quarter of $93.4 million. Sales of $96.6 million for the first six months are above average, down from last years record $150.4 million. The reduction in sales can be attributed to a reduction in overseas shipments.
Net earnings for the second quarter was $0.7 million, down from $4.6 million in the previous second quarter. Earning per share came in at $0.03 compared to $0.18 in the prior second quarter. For the first six months, earnings were $2.1, compared to $9.0 last year, with earnings per share being $0.08, versus $0.36 last year. Earnings have decreased due to the decrease in sales as well as increased spending on research and development.