Humphrey Posts Profit in Quarter

Humphrey Inc. rebounded from a dismal 1984 during the quarter ended March 31, earning $980,315 on revenue of $3.1 million, compared to a first-quarter loss the year before of $235,446 and revenue of $2.2 million.

Company Chairman P. E. Humphrey on Thursday told about 30 stockholders that the next quarter could be as “good or better.” During 1984, Humphrey lost $453,974 on revenue of $8.4 million.

A $2.6-million gyroscope order add-on by Rockwell International boosted new orders to $5.1 million for the first quarter at the electromechanical instruments and gyroscope manufacturer. That lifted Humphrey’s first-quarter backlog by 11% to $9.4 million.

Humphrey is benefiting from increased military orders for new generation target drones and missiles and television and laser-guided bombs, the chairman said.