Ultrasystems Anticipates Higher Quarter Earnings

Ultrasystems Inc. said it expects earnings for the second fiscal quarter ending July 31, 1986, to exceed the $1.6-million net income reported for the same period last year. The announcement came after Ultrasystems reported Monday that it anticipates a $400,000 pre-tax gain on the sale of its interest in the wood-fired power plant in Chinese Station, Calif., to Constellation Investments Inc. Ultrasystems’ common stock closed in moderate over-the-counter trading Wednesday at $11.375 per share, up 12 1/2-cents for the day and 25 cents for the week.

Additionally, the Irvine-based engineering and energy development company said it has received a total of $17.2 million in new contracts and contract extensions from the U.S. Defense Department during the four months ended April 30. The contracts involve systems engineering, hardware and software development for space programs, and command, control, communication and intelligence programs to be completed during the fiscal year ending Jan. 31, 1987.