Comarco’s 1st-Quarter Earnings Reach $651,000
Crediting strong performances by the three companies it recently purchased, Comarco Inc., an Anaheim defense contractor, said Monday that its first-quarter profits hit a record $651,000, a 49% jump from the $437,000 recorded last year.
Revenues for the three months ended April 30 were $18 million, a 114% increase from $8.4 million.
Glenn Buell Jr., chairman and president, said the three companies Comarco bought last year--International Business Services, Decisions and Designs, and SDL--all had “significantly improved results” under their new ownership.
In addition, Buell said Comarco’s original operations, which include providing technical support at the U.S. Naval Weapons Station at China Lake in the Mojave Desert, are steadily expanding. He said the services the company provides at China Lake under a five-year contract with the Navy are at their highest level ever and are expected to continue expanding.
In recent months, the company has received $10 million worth of new contracts, and its current backlog is now about $140 million, double its level a year ago.