Powertec reported sales for its third quarter...

Powertec reported sales for its third quarter ended July 28 of $5.4 million, down 14% from the corresponding quarter last year. Net income was $597,000, or 22 cents per share, down 16% from the same period a year ago.

For the nine months ended July 28, the Chatsworth-based company reported sales of $16.5 million, up 1% from the first three quarters of the last fiscal year. The company reported net income of $1.8 million, or 66 cents per share, up 5% from that period last year.

Powertec manufactures power-switching equipment primarily for computer manufacturers.

Sales were down this quarter, the company said, because of the general slowdown in the electronics industry. The company said, however, that it has added some major accounts, with deliveries expected to begin this year.

For detailed data and results of other companies, please see tables, Page 16.