Navarre Posts First-Quarter Profit

Navarre Corp. reports fiscal first-quarter net income of $198,000, or one cent per share, vs. a net loss in the same period last year of $938,000, or four cents per share. Sales rose 28.4% to $70 million. The distributor cites the sales gain and reduced expenses, due in part to the closing of its Hawaii warehouse (Bulletin, May 15), for the increase.

Stock in Navarre closed yesterday down two cents at $1.48.