Comarco’s 2nd-Quarter Earnings Mark Turnaround From Last Year

Comarco reported earnings of $301,000 for the second quarter, a sharp turnaround from a whopping $10-million loss a year ago.

For the quarter ended July 31, the Anaheim defense contractor’s revenue rose 26% to $23 million, up from $18.4 million a year earlier.

“Comarco’s outlook continues to be bright,” said company President Harrison Young. He said Comarco has a backlog of orders totaling $240 million, the highest in its history.

Last week, Comarco won an important five-year contract valued at $134 million to supply computer and engineering services for the Naval Weapons Center in China Lake. The award is the largest the firm has ever received.

After losing $12.9 million in its fiscal 1988 year, Comarco has recorded two consecutive quarterly profits this year. The company earned $5.5 million in the first quarter, although $4.8 million of that total was a one-time gain related to the company’s conversion of debt to stock.

For the last six months, Comarco has earned $5.5 million, compared to a loss of $9.8 million a year ago.