ACT of Anaheim Expects Record Profits for Year
Applied Circuit Technology Inc. in Anaheim expects to report record year-end earnings, according to Walter R. Menetrey, president.
While he would not disclose specific figures, Menetrey said profits will reach a new high “by a wide margin.”
For the record:
12:00 a.m. Nov. 15, 1985 FOR THE RECORD
Los Angeles Times Friday November 15, 1985 Orange County Edition Business Part 4 Page 2 Column 6 Financial Desk 2 inches; 60 words Type of Material: Correction; Wire
Applied Circuit Technology Inc. in Anaheim said Thursday that it expects to post a profit for the fiscal year ended Oct. 31, 1985, compared with a loss of $1.47 million the previous year. The company said it expects to report sales for the year of about $17 million, compared with $10.1 million a year earlier. A story in Thursday’s edition of The Times incorrectly reported that the company expected record profits for fiscal 1985.
Last year, ACT posted a loss $1.47 million. In 1983, the company reported a profit of $2.26 million.
Meanwhile, the hours of about 25 assembly workers at ACT will be cut to 32 hours a week, effective next Monday, as a temporary measure while the company changes emphasis in its product line and reduces its current inventory, the company said Wednesday.
ACT, which employs about 180 workers to make testing equipment for computer parts, expects to return the 25 workers to full 40-hour work weeks in January, he said.
The company has a higher level of finished goods on hand than is necessary because of the overall softness in the computer market, he said. But it is changing over to produce newer, more sophisticated testing equipment for companies making computer disk drives that have higher memory capacities and are more intelligent.
