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Compass Diversified Cuts Q1 Net Loss 64%

Published: 10 May 2010
 by Staff
WESTPORT, CT – Compass Diversified Holdings reported a first-quarter net loss of $15.3 million, compared to a net loss of $42.2 million for the same quarter in 2009. Sales were up 29% for the period ended March 31.

“We completed the acquisition of Circuit Express, a quickturn producer of printed circuit boards primarily for the aerospace and defense-related markets, which we believe is an excellent addition to Advanced Circuits,” said CEO Joe Massoud, adding that the deal is expected to be accretive.

As of Mar. 31, CODI had $22.1 million in cash and cash equivalents on hand, $75.5 million outstanding on its term debt facility, and $70.5 million outstanding under its $340 million revolving credit facility.

The company has no significant debt maturities until 2013.
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