Global turmoil results in Koss loss

Milwaukee-based headphone manufacturer Koss Corp. today reported a fiscal third quarter net loss of $25,000, down from net income of $115,000 in the third quarter of 2013.

Revenue was $4.3 million, down from $8.3 million in the same period a year ago.

Weakened global economies were blamed for lower sales in Europe and elsewhere.

“The company has experienced continued low sales across its network of European distributors as well as with one OEM customer in Asia,” said Michael Koss, president and chief executive officer. “The situation has worsened with recent political turmoil in Russia and Ukraine. The sales in the U.S. have fared better but are also lower than last year.”

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