Powertec Shows Decline of 53% in Third Quarter

Powertec reported that its earnings fell 53% in its third fiscal quarter ended Aug. 3, to $281,000, or 10 cents a share, on sales that increased 4%, to $5.7 million.

The company, which makes power supplies used in computers and telecommunications equipment, attributed the decline to the slow turnaround at Semiconductor Circuits, a New Hampshire company it bought in November, and lower sales at its California operation.

For the nine months ended Aug. 3, earnings fell 26%, to $1.3 million, or 49 cents a share, on a 19% increase in sales, to $19.7 million.