Net Income Rises for Microsemi Corp.

Despite the persistent nationwide slump in semiconductor sales, Microsemi Corp. of Santa Ana reported its third-quarter net income soared 27%, largely due to military contracts.

For the quarter ended July 1, the company reported net income of $1 million compared with $827,000 recorded last year. Sales were $8.9 million, nearly 13% higher than the $7.8 million posted the year before.

For the first nine months of the fiscal year, Microsemi reported profits of $2.9 million, an increase of 38% over the $2.1 million of a year ago. Revenues were $25.4 million, up 17% from the $21.7 million posted last year.