Perceptronics’ 1st-Quarter Profit Drops by 85%

Perceptronics Inc., a Woodland Hills-based producer of simulators and other training equipment for the defense and commercial industries, said its fiscal first-quarter profit tumbled 85% from a year earlier on a 3% dip in revenue.

In the quarter ended June 30, Perceptronics’ net income fell to $13,616 from $90,472 a year earlier, and its revenue slipped to $5.40 million from $5.57 million.

Perceptronics said litigation costs lowered its earnings in the latest quarter. The company also said that while it stepped up marketing efforts to spur higher revenues, it “aggressively reduced other overhead” to maintain profitability.