Defense Jobs Push 3rd-Quarter Profit Up 35% at Perceptronics

Perceptronics reported a 35% increase in profit on 102% higher sales for its third quarter ended Dec. 31, over the same period a year earlier. Net income was $193,077, or 5 cents a share, on sales of $8.4 million.

Woodland Hills-based Perceptronics is a defense contractor doing research and development on computer hardware and software systems. It also sells products derived from its research, including a line of table-top tank gunnery trainers.

For the nine months ended Dec. 31, net income was up 100% to $500,993, or 14 cents a share. Sales were up 92% to $21.1 million.

The company attributed its rapid expansion to new research-and-development contracts with the Defense Department.