Applied Circuit Posts $8.9-Million Loss for Fiscal ’86

Applied Circuit Technology Inc. reported a net loss of $8.9 million for its 1986 fiscal year ended Oct. 31. The Anaheim-based company said that a $1-million write-down taken during the final quarter contributed to the loss, which contrasts with a $401,153 net loss a year earlier. Revenues for ACT’s fiscal 1986 increased 7% to $19.8 million from $18.5 million a year earlier.

For the fiscal fourth-quarter, the maker of generic drugs and computer disk drive test equipment reported a $4-million net loss, contrasted with a $470,486 net loss a year earlier. Quarterly revenues increased 26% to $6.4 million from $5 million during the like quarter a year earlier. The $1-million write-down during the quarter was taken in anticipation of the company’s sale of its Magnetic Technology subsidiary. Applied Circuit added that it recently sold its Trident unit for $600,000, plus $150,000 in accounts receivable.