Perceptronics Net Income Gains 90% in 1st Quarter

Perceptronics reported record net income for its first quarter ended June 30 of $251,413, or 7 cents a share, up 90% from the same period a year earlier. Sales were up 67%, to nearly $8.3 million.

Woodland Hills-based Perceptronics, which canceled a public offering earlier this month because of what it called adverse stock market conditions, performs research and development, primarily for the Department of Defense. It also manufactures computer equipment and training systems for the military.

The company attributed its improved first-quarter results to a continuing contract with the Army for combat simulation computers.