Odetics Reports Net Earnings of $113,000

By MARIA L. La GANGA

June 2, 1987 12 AM PT

Odetics Inc., the Anaheim high-tech and robotics company, reported fiscal 1987 net earnings of $113,000, a nearly threefold increase from the $33,000 reported the previous year. Revenues for the 12 months ended March 31 were $39.7 million, up 20% from the $33.1 million reported in the prior year.

For the fourth quarter, net earnings of $278,000 were down 18% from the $340,000 reported a year earlier. Revenues for the quarter were $11.4 million, a 28% increase from the $8.9 million reported for the same period in the previous year.

Joel Slutzky, Odetics’ chairman, said in a prepared statement that the company has dedicated most of its earnings over the past five years to the development of its “intelligent machines” technology and that it saw its first return on that investment in the increased sales for the fourth quarter of fiscal 1987.

Odetics markets robots capable of performing specific tasks, such as its Robot Insect, which has been assigned radioactive cleanup chores.

Technology and the Internet Business

Maria L. La Ganga

Maria L. La Ganga is the deputy managing editor for California and Metro, overseeing the Los Angeles Times’ largest editorial department. She joined The Times in 1981 as an academic intern, splitting her time between the former Metro section and National Dragster, the official publication of the National Hot Rod Assn. She has served as Seattle bureau chief, San Francisco bureau chief, edited in the Business section and pitched in on six presidential elections, five for The Times and one for the Guardian. La Ganga left The Times in 2015 and returned in 2018 after a brief hiatus during which she wrote for the Guardian and the Idaho Statesman. She was named city editor in 2022 and promoted to her current role in 2024. La Ganga graduated from Granada Hills High School in the San Fernando Valley and Cal State Northridge, where she studied English literature and journalism.

Odetics Reports Net Earnings of $113,000

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