Revenue Decline: Microsemi Corp., based in Santa...
From Times Staff and Wire Reports
Revenue Decline: Microsemi Corp., based in Santa Ana, reported a net loss of $630,000 for the first quarter of fiscal 1990, the result of significantly lower operating income in its semiconductor group and operating losses within the microelectronics assemblies group. A year ago, the company posted net income of $857,000 for the first quarter, which included a gain of $570,000 from the repurchase of the company’s convertible debentures. Revenue dropped 17%, to $19.4 million from $23.3 million for the first quarter of fiscal 1989. Microsemi said that $4 million of the revenue decline was attributable to businesses either disposed of or targeted for disposition.
