San/Bar Earnings Fall on Higher Revenues

San/Bar Corp. said net earnings for its fiscal 1987 first quarter were $167,000, down 56.1% from $380,000 for the year-earlier quarter. Revenue for the period ended Sept. 30 was $5.5 million, up 28% from $4.3 million.

But Harold W. Anderson, treasurer of the Irvine-based telephone equipment maker, said the previous year’s first quarter was boosted by nearly $2 million in interest earnings and that without those funds the company would have posted a $1.5-million loss. “This year we are making money on regular business operations,” Anderson said.

The fiscal 1987 first-quarter revenues included $95,000 in interest income and $65,000 in royalty income.

The company attributed the increased revenues to sales of its Digital Microwave Systems division in San Diego and Orange counties during the last fiscal year. These sales created a $5-million backlog, much of which is carrying over into the new year, according to Ron Bass, corporate controller.