BRIEF: Koss Corp. reports drop in profits

Jul 14, 2008 (Milwaukee Journal Sentinel - McClatchy-Tribune Information Services via COMTEX) -- KOSS | Quote | Chart | News | PowerRating -- Koss Corp. reported an 11% drop in net income for the fourth quarter, to $1.3 million or 34 cents per share, from $1.4 million, or 38 cents per share, for the fourth quarter in 2007. The Milwaukee-based stereophone manufacturer said spending for new product development and a $350,000 donation to the Susan G. Komen foundation were responsible for the decline.

Sales for the quarter were up 10%, to $12.2 million from $11.1 million. Shipments to Europe helped to drive sales, the company said.

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