Black Box reports second quarter income drop

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Black Box Corporation, a Lawrence-based digital communications company, announced second quarter net income of $5.6 million, or 35 cents per share, down from $7.1 million, or 43 cents per share the same period last year. Company revenues dropped to $246.8 million, a five percent decrease from $260.2 million the same period last year.

President and CEO Michael McAndrew said the quarter’s results were “solid” but said the rest of the year could be weakened by less demand for services from federal agencies.

“Our second quarter results reflect solid operational cash flow, which allowed us to continue to return value to our shareholders through stock repurchases and dividend payments. However, softness in demand, primarily from the federal government, has decreased our revenue and profit margin expectations for the second half of our fiscal year."

Black Box closed at $31.43, up 2.4 percent.


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