ORANGE COUNTY
Helionetics Inc., the Irvine defense electronics company, Wednesday announced the receipt of a multiyear, $30-million contract with an unidentified customer for power controlling equipment.
The contract, one of the company’s largest in recent years, quadruples Helionetics’ backlog of orders to a record $40 million. Helionetics executives declined to reveal the name of the customer because the purchasing company has yet to announce the deal.
The order comes at a critical time for the company. Despite rising revenues last year, earnings fell nearly 75% to $586,500, in part because of increased research and selling costs. Revenues for 1984 surged 60% to $27.3 million.
In addition to falling earnings, Helionetics also lost its president and chief executive, Charles Missler, who resigned in December after a 15-month power struggle with Bernard Katz, the company’s largest shareholder. Earlier this year, former Treasury Secretary William E. Simon, citing “personal reasons,” resigned his seat on the company’s board of directors.
The 10-story Bank of America building at Harbor Boulevard and Broadway in downtown Anaheim has been purchased by Anaheim-based Meyer Investment Properties Inc. for $7.1 million. The seller was Canal Randolph, Inc., of New York.
Meyer plans to spend more than $1 million to repaint the building and adjacent parking structure, install new landscaping, modernize the building’s interior and outfit it with new energy systems, according to company regional manager Frank Wayne.
The bank will continue its retail operation on the building’s first floor and occupy offices on the second and third floors. Leasing of the fourth through tenth floors is being handled through the Anaheim office of Coldwell Banker Commercial Real Estate Services.
Triconex Corp., a 1 1/2-year-old firm that develops and markets control systems for the automated manufacturing and processing industries, has moved to a 24,014 square foot facility at 16800 Aston St. in Irvine. The new location is triple the size of the company’s former Irvine headquarters.
Elliott Corp., a general commercial contracting firm, has moved its corporate headquarters to more spacious offices, containing 7,000 square feet, in the Koll Center, 4320 Von Karman Ave., Newport Beach. Its former offices also were in Newport Beach.
