05:22 PM EDT, 08/22/2024 (MT Newswires) -- Inventronics (IVX.V) Thursday said its second-quarter profit fell 59% as its customers delayed purchases.

The company, which manufacturers enclosures for electronic equipment, said it earned $141,000, or $0.03 per share, in the period, down from $346,000, or $0.07, in the year-prior quarter.

Revenue fell 37% to $1.95 million from $3.1 million.

According to the company, the lower revenue and profitability for the period cames as customers delayed purchases to lower their enclosure inventories in response to slower installation progress.

The company's shares closed up $0.04 to $0.85 on the TSX Venture Exchange.