Archive Signs $22.3 Million in Contracts

Archive Corp., a Costa Mesa-based manufacturer of cartridge tape-drives for computer data storage, said it has signed contracts totaling $22.3 million to supply its products to 10 computer manufacturers.

Terry Green, Archive’s marketing director, said the company expects to receive $9 million in revenue from those contracts during the next fiscal year, begining Oct. 1, and the remaining $13.4 million during the 1987-88 fiscal year. The contracts call for Archive to supply the companies--ranging from Motorola Computer Systems in Cupertino to Nokia Corp. in Helsinki, Finland--with parts to be integrated into complete computer systems.

In the third quarter of the current fiscal year, Archive Corp.’s net income was $1.8 million on sales of $19.3 million. During its last fiscal year, Archive had net earnings of $1.03 million on sales of $57.8 million. The earnings were depressed because of the approximate $2-million cost of starting a new manufacturing plant in Singapore, Green said.