EIP Microwave Inc. reported net income of...

EIP Microwave Inc. reported net income of $242,000 for the second quarter ended March 31. It had a loss of $442,000 for the same period a year ago. Sales rose 29%, to $3.4 million from $2.6 million. The company attributed the turnaround to restructuring during the previous year and an emphasis on expanding base business. For the 6 months, net income totaled $50,000, which included a $748,000 gain from an accounting change. The company lost $1.2 million for the first half of last year. Sales jumped 28%, to $6.5 million from $5.1 million. Results for the current 6 months also include a pre-tax charge to operations of $1.1 million, resulting from the write-down of assets associated with the company’s realignment of technical, financial and management resources. EIP, with headquarters in Newport Beach, manufactures microwave test and measurement instruments, which are predominantly used in the defense and telecommunications industries.