Sale to Spin-Off Firm Boosts DWI’s Quarter

Largely due to the sale of a portion of its business, DWI Corp. of Irvine Thursday reported second-quarter earnings of $624,183, a dramatic increase from the $56,414 loss posted in the same period a year earlier.

For the three months ended Dec. 28, the design and engineering service company recorded revenues of $2.5 million, an increase of more than 250% from $684,841 collected in the year-ago quarter.

However, the latest quarterly results include a $602,218 one-time gain from the sale of several product development projects to Inotek, a new Irvine-based corporation. DWI Corp. maintains a majority interest in the new company.

For the first six months of DWI’s fiscal 1985, the company reported earnings of $567,665, compared to a loss of $67,422 in the prior-year period. Revenues for the latest period were $3.4 million, an increase of about 150% from those from a year earlier.