Datametrics Reports 20% Rise in Profits
Datametrics Corp., a Chatsworth producer of printers and other equipment for the military, said its profit for fiscal 1991 rose 20% despite a 21% decline in revenues.
The company earned $675,000 in the year ended Oct. 27, compared with $564,000 last year. Revenues were $21 million compared with $26.5 million a year ago.
For the fiscal fourth quarter, Datametrics’ earnings rose 38% to $272,000 from $197,000 last year, while revenues grew 5% to $6.26 million from $6 million.
Sidney E. Wing, president and chief executive, credited the yearly earnings gain to higher profit margins that resulted from improved contracting procedures, greater operating efficiencies and reduced inventories. He said the fourth quarter was Datametrics’ ninth profitable quarter in a row since a corporate restructuring in 1989.
Revenues dropped because of a cutback in military contracts, Wing said. The company is trying to gain a foothold in the commercial sector and recently received three non-military contracts, he said.