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Losses narrow for Fortune Industries

April 14, 2008
Fortune Industries Inc. today reported a second fiscal quarter loss of $2.8 million, an improvement from a $4.9 million loss a year earlier.

The Indianapolis holding company didn't break out profits by operating segment for the quarter ended Feb. 29, but CEO John Fisbeck said the slowing economy hurt its human-resources arm.

Revenue in its wireless-infrastructure unit fell as the company downsized in order to focus on earnings.

In Fortune's transportation-infrastructure division, specialty products brought a small lift.

In the ultraviolet-technologies unit, sales declined.

In its electronics-integration business, manufacturing problems and fewer television products caused revenue to drop.

Fortune stock this morning fell 34 cents per share, to $1.51.

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