Net Income Rises 32% for Perceptronics Inc.

Perceptronics Inc., a Woodland Hills maker of computer simulators for training military personnel, said its net income rose 32% in its fiscal first quarter that ended June 30, to $149,539 from $113,596 a year ago.

But the company’s chief executive, Gershon Weltman, said the company expects “lower sales and possibly a modest loss” in its second quarter, because a major contract is ending. Weltman said in a statement that he then expects results in the second half to improve.

The profit gain in the first quarter was due partly to a $61,500 tax benefit. Perceptronics said its income before the tax benefit and the income taxes it actually paid increased 17% to $152,539 from $130,596.

The company’s first-quarter sales fell 8%, to $6.17 million from $6.73 million a year earlier.