PDA Engineering’s Net Drops; Revenue Up 33.3%

PDA Engineering, one of the first companies to report a decline attributed to the bankruptcy of Equidon Contractors earlier this year, said its net income for the fiscal 1986 third quarter was $210,000, down 55.6% from $473,000 a year earlier.

The Santa Ana-based designer, developer and marketer of mechanical engineering software and high-technology products and engineering services said a large part of the dip in profits was a $180,000 write-off it took after Equidon, the developer of PDA’s proposed new corporate headquarters, went bankrupt and abandoned the project.

Clifford Mayotte, PDA’s chief financial officer, said the company had in advance listed as assets the costs of certain of the custom improvements it ordered for the building--things such as electrical engineering and floor space layout to fit the facility to PDA’s purposes.

Despite the lowered profits, PDA said third-quarter revenue of $5 million was up 33.3% from $3.75 million.

And for the nine months ended March 31, the company reported net income of $1.1 million, up 15.7% from $951,000.