Despite sharply higher sales, Santa Ana-based Microsemi...

Despite sharply higher sales, Santa Ana-based Microsemi reported that its fiscal second-quarter earnings declined 88% to $166,000, from $1.37 million a year earlier. For the quarter ended March 27, the semiconductor-products company’s revenue grew 94% to $20.8 million, from $10.7 million in the corresponding 1987 period. Microsemi officials attributed the earnings decline to operating losses in three business groups, which are mostly composed of businesses Microsemi acquired in 1986 and 1987. Microsemi Chairman Philip Frey said that despite the decline in earnings, the company is “confident that the longer-term benefits of our growth strategy will enhance Microsemi’s value.”