EECO Inc. Net Income Jumps 44% for Year

EECO Inc., a Santa Ana computer and electronics maker, said that net income for its fiscal 1986 jumped 44% to $2.3 million from $1.6 million a year earlier. Revenue for the year ended Dec. 28 was $62.6 million, up 15% from $54.3 million.

For the fourth quarter, net income rose 22% to $606,000 from the year-earlier $495,000. Sales for the quarter increased 35% to $19.2 million from $14.2 million.

The year-end figures include three months of operating results from Convergence Corp., a maker of computerized video editing equipment that EECO acquired in September, 1986.

Robert C. Milo, president and chief executive, attributed the improved company performance to reorganization of management positions in marketing, engineering and operations, and overall cost-cutting steps throughout the year. The company's order backlog at year's end stood at $19.1 million, up 13% from $16.9 million at the end of 1985.

Copyright © 2019, Los Angeles Times
EDITION: California | U.S. & World