The Dewey Electronics Corporation Reports First Fiscal Quarter 2012 Results

November 19, 2011

The Dewey Electronics Corporation (OTCQB: DEWY.OB) reported revenues for the first fiscal quarter of 2012 increased 7.7% to $1.74 million.  The net loss for the period increased 18% to $147 thousand or ($0.11) per share.

The balance sheet, while small, is in reasonable condition with $425 thousand in cash/cash equivalents, total assets of $3.3 million and total liabilities of only $1.2 million.  It is important to note that the company’s plant, property and equipment is 85% depreciated and includes real estate.

The comapany’s backlog of sales orders at September 30, 2011 stood at $10 million compared to $4.2 million at the same time in 2010.  The increase in backlog was primarily the result of a final delivery order in the amount of $7.9 million under the company’s contract to supply the U.S. Army with 2kW generator sets.  The company expects substantially all of the present backlog will be billed in the next 24 months and recognized in fiscal year 2012 and 2013 revenues.

The Dewey Electronics Corporation is engaged in the development, design, and manufacturing of military electronics with a focus on compact diesel power generation.

Source: The Dewey Electronics Corporation

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