EECO Inc. reported that its profit for...

EECO Inc. reported that its profit for the third quarter declined 55%, to $255,000 from $562,000 for the third quarter of 1987. Included in the most recent quarter results is a $681,000 gain from the sale of real estate in England. Net sales for the third quarter reached $22.1 million, up 15% from the $19.3 million posted in the like quarter in 1987. Net income for the first 9 months was $286,000, a 65% decrease from the $809,000 reported for the year-ago period. Year-to-date sales totaled $65.5 million, 19% higher than the $55 million reported for the first 9 months of 1987. Robert C. Milo, EECO president and chief executive, said: “Third-quarter results were disappointing due to an increase in the cost of sales and increases in interest costs. The decrease in the margin was due to pricing pressure for keyboards, membrane switches and video products.” He said that start-up costs for a new keyboard program also contributed to low margins. EECO, headquartered in Santa Ana, manufactures keyboard and switch products, airline passenger entertainment/service systems, hotel computer systems and computerized videotape-editing systems.