2nd-Quarter Net Earnings Down for Silicon Systems
Silicon Systems Inc. reported net earnings of $105,000 for the three months ended March 29, down 87% from $822,000 a year ago. At the same time, Silicon System’s revenues for the second quarter rose 28%, to $16.1 million from $12.6 million.
But because the Tustin-based semiconductor maker had a net loss of $2.4 million during the first quarter of its fiscal 1986, it posted a net loss of $2.3 million for the first half of the year, compared with net earnings of $2.4 million for the first six months of 1985.
The slump in the semiconductor industry, which continued into the early months of the year, caused Silicon Systems’ six-month revenues to fall 5% to $27.4 million from $29 million during the first half of 1985.
Company officials attributed the second-quarter rebound to increased sales and new orders. New orders, they said, increased 33% to $19.6 million from $14.7 million during the first quarter.