Net Income Rises 30% for Fiscal Year at EECO
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A sharp rise in sales at two divisions combined with a company-wide cost control program to boost net income 30% for the fiscal year at EECO Inc.
The Santa Ana-based manufacturer of electrical switch products and computer systems reported net income of $1.62 million for the year ended Dec. 29, compared with net income of $1.24 million the prior year. Net income for 1984 also included a $972,000 tax credit.
Sales for fiscal 1985 climbed 17% to a record $54.3 million from $46.4 million during fiscal 1984.
The company also reported a 43% rise in fourth quarter net income, to $495,000 from $345,000 in the year-earlier quarter. Fourth quarter sales advanced 14% to $14.2 million from $12.5 million.
Robert C. Milo, president and chief executive, said the results reflect “sharp improvements” in the company’s hotel computer systems and avionics operations.
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