2nd-Quarter Earnings Dip at Golden Systems

Golden Systems Inc., a Simi Valley maker of power supplies for personal computers that just completed its initial public stock offering, reported lower earnings for its fiscal second quarter.

In the three months that ended Sept. 30, Golden Systems had a profit of $188,000, down 6% from the $199,000 that it earned in the year-earlier quarter. Its revenue rose 6%, to $6.24 million from $5.9 million.

For the six months, however, the company earned $444,000, in contrast with a $174,000 loss a year before. Its revenue was $12.7 million, up 57% from $8.09 million in revenue in the same period last year. The company said the big revenue increase was due to growing shipments to its biggest customer, Compaq Computer Corp.

Golden Systems’ chief executive is Jay Tandon, the younger brother of Sirjang (Jugi) Tandon, who founded Tandon Corp. in Simi Valley. Tandon Corp., once a booming PC maker, filed for Chapter 11 bankruptcy court protection eight months ago.

Jugi Tandon owns 3% of Golden Systems’ stock.

In its initial stock offering completed one week ago, Golden Systems sold 2.5 million shares of common stock at $7 apiece, raising a total of $17.5 million before expenses.