Pacific Scientific Co.: The Newport Beach company...
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Pacific Scientific Co.: The Newport Beach company reported Thursday that its annual earnings fell to $5.4 million, down from $8 million for the previous 12 months. Revenue was little changed: $172.7 million, compared to $172.9 million.
Profit for the company’s fourth fiscal quarter, which ended Dec. 25, totaled $1.6 million, up from $1 million a year earlier. Three-month revenue rose 12% to $46.2 million from $41.4 million.
The fourth-quarter sales and revenue increases capped “a year of difficult economic conditions,” said Edgar S. Brower, Pacific Scientific’s chairman. “For the fourth quarter, we reported the second-highest quarterly sales in the company’s history.”
Pacific Scientific’s stock was unchanged at $15.625 in Thursday’s trading on the New York Stock Exchange.
The firm designs and manufactures technology-based products.
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