Microsemi’s Earnings Fall 11% in 3rd Quarter

Microsemi Corp., a Santa Ana manufacturer of electronics products, reported earnings of $1.3 million for the third quarter, an 11% decline from $1.5 million during the same period in 1986. Sales increased 15% to $11.7 million from $10.2 million a year ago.

For the nine months ended June 28, Microsemi reported profits of $3.9 million, down 1% from year-earlier earnings of $4 million, which included a $213,000 gain from an asset sale. Nine-month sales were $32.2 million, an increase of 14% from $28.4 million in 1986.

In a prepared statement, Microsemi Chairman Philip Frey Jr. said the decline in earnings reflects investments in several start-up and turnaround segments of Microsemi’s business.