Semco Instruments Profits Fall 86%, Sales Down 30%
Semco Instruments Inc., a Valencia producer of sensors and electronic controls, said its profit for the first half of 1991 dropped 86% from a year earlier on a 30% decline in sales.
Semco earned $35,000 during the period, contrasted with $250,735 last year. Sales through June 30 were $2.2 million, contrasted with $3.11 million last year.
The company said the lower figures stem from a significant drop in demand in both its commercial and military customers brought on by the recession and the overall decline in air travel.
Semco said it has cut staff in both production and overhead positions to cope with the lower sales volume.