AST Research Reports 57% Drop in Net for Quarter
- Share via
Irvine-based AST Research Inc. reported net earnings of $3.7 million for the second quarter of its fiscal year 1987, down 57% from $8.6 million a year earlier. Sales for the period ended Dec. 31 hit a record $47.1 million, up 2% from $47 million.
For the first six months of its fiscal year, AST had profits of $6.8 million, down 59% from $16.6 million recorded a year earlier. Revenues of $87.3 million were down 3.7% from $90.7 million.
Despite the dips in income, the supplier of add-on products for IBM personal computers called the quarter’s net sales a “remarkable achievement.”
Safi Qureshey, AST’s president, said the poor showing was due to AST lowering the average selling price of its products while making sizable investments to launch new products. The quarterly results represent “a much broader revenue base which will benefit AST in future periods,” he said.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
