McDonnell Douglas Irvine Unit Reports Profit of $18 Million
McDonnell Douglas Information Systems Co., Irvine, reported earnings of $18 million for the second quarter of 1989, contrasted with a loss of $22 million for the same period in 1988.
The company said this is the first time that the company has made a profit in the second quarter or the first half in six years and credited the performance to increased sales and lower operating costs.
Revenue declined 8%, to $278 million from $303 million. The company attributed the decrease to businesses the company no longer owns. The company last year reorganized its business units into four divisions.
For the first half of 1989, McDonnell Douglas Information Systems earned $9 million, up from a loss of $50 million in the first six months of 1988. Revenue dropped 6%, to $559 million from $594 million.
McDonnell Douglas Information Systems, a division of McDonnell Douglas Corp., targets the networking, systems integration and computer systems markets.