Helionetics’ Net Drops Sharply

Blaming increased research and marketing expenses, Helionetics Inc., an Irvine defense electronics company, on Friday reported sharply lower earnings for the final quarter and calendar year despite significantly higher sales.

The company posted net income of $130,300 for the fourth quarter, a 79% decline from the $624,500 recorded a year earlier. Revenue for the period was $8.7 million, a 47% increase from the $5.9 million of the prior year.

For all of 1984, earnings fell nearly 75%, to $586,500 from $2.2 million. Annual revenues were up 60%, to $27.3 million from $17.1 million.

Company officials said Helionetics’ 1984 performance was dragged by increased research and marketing costs in the final six months of the year. In the third period, the company suffered its first quarterly loss since 1980.

However, newly installed President and Chief Executive Michael M. Mann said early signs, including a record $10 million in backlogged orders as of March 1, indicate that the company can achieve its goals of record sales and earnings in 1985.