Perceptronics Cuts Losses for 3rd-Quarter Gain

Perceptronics Inc., a Woodland Hills maker of computer trainers and simulators for the military, said it earned $324,276 in the third quarter that ended Dec. 31, compared to a loss of $2.35 million a year earlier. The company said its revenues decreased 22% for the quarter to $6.72 million from $8.63 million a year before.

A substantial portion of net income for the quarter stemmed from a $123,100 tax benefit. The year-earlier results included revenues and losses from the company’s FAAC Perceptronics unit, which it sold last spring.

For the nine months that ended Dec. 31, Perceptronics reported a net income of $815,982, compared to a loss of $2.51 million in the same period a year ago. Nine-month revenues dropped 7% to $20.86 million from $22.49 million.