Microsemi Profits Rise by 44% to $1.3 Million

Citing strong sales of its electronic products to defense-related customers, Microsemi Corp. in Santa Ana reported first-quarter profits of $1.3 million, up nearly 44% from $898,000.

Contributing to the record profit was a $213,000 gain on the sale of stock in an unrelated company. Revenues for the period ended Dec. 29 were $9 million, up 8% from $8.3 million.

Microsemi attributed its performance to a 27% increase in sales to military and aerospace customers, which more than offset a 12% decline in commercial product sales.