Milwaukee-based Koss Corp. reported a fiscal 2016 first quarter net loss of $100,804, or 1 cent lost per share, compared with a net loss of $95,998 in the first quarter of 2015.
The high-fidelity headphone manufacturer recorded an operating loss of $162,204, compared with an operating loss of $153,101 in the same period a year ago.
Koss’ quarterly revenue totaled $5.5 million, flat from the first quarter of 2014.
Uneven sales contributed to the widened loss year-over-year, the company said.
“The first quarter of our fiscal year is typically the slowest quarter in terms of sales,” said Michael Koss, chairman and CEO of Koss Corp. “Sales for the first quarter were lower than we expected, with some orders shifting into the beginning of the second quarter. We did have some bright spots with a new headphone driving increased sales in mass retail and new customers coming on line both domestically and in Asia. However, we are still experiencing very mixed and choppy sales with several export distributors and certain customers in the U.S.”
