TRC posts $0.3 million loss

CLEARWATER — Technology Research Corp. (symbol: TRC) lost $0.3 million in the three months ended Dec. 31, 2010, on $6.9 million in revenues. In the same quarter last year, the company netted $0.5 million in profits on $7.6 million in revenues.

Quarterly performance suffered from “delays” to certain orders and programs involving military contracts, according to Owen Farren, president and CEO. But Farren assures that next quarter will bring stronger results.

“Bookings going into the last quarter of the fiscal year have picked up in both TRC's traditional military business and the newly acquired Patco intelligent battery systems business,” Farren said in a release.