3rd-Quarter Profit Drops 50% at Perceptronics Inc.

Perceptronics Inc., a Woodland Hills maker of tank simulators and other military training equipment, said its fiscal third-quarter profit dropped 50% from a year earlier on a 20% decrease in revenue.

In the quarter ended Dec. 31, Perceptronics’ net income fell to $162,583 from $324,276 a year earlier, and its revenue fell to $5.40 million from $6.72 million.

For the first nine months of its fiscal year, the company’s profit was off 49%, to $416,221 from $815,982, and its nine-month revenue dropped 22% to $16.3 million from $20.9 million.

Perceptronics also cautioned that it had begun work on tank simulators for the German army, even though it has not received final German government approval for production of the systems.

The company will spend about $900,000 on the program through March, and although it is “confident” that production will be approved, Perceptronics said its revenue for the full fiscal year ending March 31 would be lower than expected if the program is not approved soon.