Ultrasystems’ 3rd-Quarter Net Income Drops 21%

Ultrasystems Defense and Space Inc. of Irvine, a wholly owned subsidiary of Ultrasystems, reported net income of $525,000 for its fiscal 1986 third quarter ended Oct. 31, down 21% from $665,000 for the same period a year ago. Revenues for the quarter totaled $13.8 million, up slightly from $13.78 million a year earlier.

For the first nine months, the company reported net income of $2 million, up 12% from net income of $1.78 million for that period a year earlier. Revenue for the period was $45.1 million, up 19% from $38 million a year earlier.