Cushman Electronics Inc. reported a profit of...

Cushman Electronics Inc. reported a profit of $378,000 for the year ended Sept. 30. It had a loss of nearly $2 million last year. Sales decreased 31%, to $4.7 million from the $6.9 million posted a year ago. The company said discontinued products accounted for $2.5 million of 1987 sales. For the fourth quarter, the company reported a loss of $46,000. It had a net loss of $1.5 million for the comparable period a year ago. Sales declined 23% to $968,000 from $1.3 million. Discontinued products accounted for $575,000 of the 1987 fourth-quarter total. The company said a delay in anticipated billings under a customer-funded research and development contract contributed to lower-than-expected quarterly sales and the fourth-quarter net loss. Cushman, with headquarters in Newport Beach, sells and services telephone communications products.