Pico Products Posts $164,480 Net Income in 4th Quarter

Pico Products Inc., a Lake View Terrace maker of pay-television security devices and distributor of satellite antenna systems, reported a small fiscal fourth-quarter profit, but posted a net loss for all of its 1993 fiscal year.

In the three months that ended July 31, Pico had net income of $164,480 contrasted with a $228,934 loss a year earlier. Sales in the latest quarter rose 47%, to $6.62 million compared with $4.55 million in the fourth quarter of fiscal 1992.

Pico’s Chairman and Chief Executive Everett T. Keech said, “Our fourth-quarter financial performance provides us with a solid base as we look forward to fiscal 1994.”

Keech added that the company sees “exceptional opportunities” for itself in the coming year as a result of rapid change in the cable-TV and telecommunications industries and the growth of cable TV in South America and the Far East.

For all of fiscal 1993, Pico posted a net loss of $276,648, contrasted with fiscal 1992 net income of $66,815. For the full year, sales climbed 22%, to $23.74 million from $19.52 million a year earlier.