Pico Products’ Profit Down 90% in Quarter

Pico Products, a manufacturer of components for the cable television business, reported a 90% drop in net income for its first quarter, which ended Oct. 31.

The company earned $19,387 on sales of $5.3 million, down from $187,197 on sales of $5.3 million in the same quarter last year. The company blamed added legal expenses in part for its earnings decline.