Gradco Systems Inc. reported record net earnings...

Gradco Systems Inc. reported record net earnings for fiscal 1989 of $5.6 million, 39% higher than the $4.1 million posted last year. Revenue for the fiscal year ended March 31 rose 27%, to $115.1 million from $91 million. For the fourth quarter, net earnings totaled $1.8 million, a 33% increase from the $1.3 million reported for the like period a year ago. Revenue rose 4%, to $28.9 million from $27.6 million. Keith B. Stewart, chairman and chief executive, said the company’s Japanese subsidiary accounted for 48% of the company’s pretax earnings for the year. Gradco, based in Irvine, is a supplier of sorters, sheet feeders and other paper-handling devices for the office automation market.