Archive Corp. Reports Record Net Income

Costa Mesa-based Archive Corp. reported record net income of $1.4 million for its fiscal 1986 second quarter, up from $58,000. Revenue for the period, which ended March 28, was $20.5 million, a 56% increase from $13.1 million.

Net income for the first half of the computer product maker’s fiscal 1986 climbed to $2.4 million from $113,000, while first-half revenue increased 70% to $41.3 million from $24.3 million.

D. Howard Lewis, Archive chairman and chief executive officer, said the major reason for the company’s sales hike is an increasing acceptance by the computer industry of quarter-inch tape as the primary backup for microcomputer disk storage. Archive’s principal product is a line of quarter-inch tape systems.

Lewis said the labor and other savings realized by moving most of Archive’s production to a plant in Singapore in the 1985 fiscal year were primary factors in the company’s increased profitability.