EIP Microwave Reports $62,000 Net for Quarter

EIP Microwave Inc. of Newport Beach reported earnings of $62,000 for the third fiscal quarter ended June 30, more than double the $30,000 posted in the same period a year ago. Sales for the company’s third quarter were $4.7 million, down 1% from a year earlier.

For the first nine months of EIP’s 1987 fiscal year, the company reported earnings of $204,000, down 13% from $234,000 a year ago. Nine-month sales were $15.1 million, up 3% from $14.6 million.

EIP, which makes microwave devices used in the defense and communications industries, attributed the earnings improvement primarily to cost reductions.