Microsemi Posts 3rd-Quarter Net Despite Revenue Decline From ’89

Microsemi Corp., the Santa Ana semiconductor company, posted net income of $377,000 for the third quarter of fiscal 1990, contrasted with a loss of $707,000 for the corresponding period last year.

Revenue for the quarter ended July 1 declined 11% to $23.6 million from $26.4 million. The fiscal 1989 third quarter included $3.9 million in revenue from businesses either disposed of or planned for disposition.

For the nine-month period, the company lost $39,000, contrasted with earnings of $1.1 million a year earlier. Revenue decreased 16% to $65.4 million from $78.3 million a year earlier.

Microsemi said both fiscal 1990 third-quarter and nine-month results continue to be affected by lower operating income in the semiconductor group and operating losses within the microelectronics assemblies and testing group.