Perceptronics Shows Profit of $749,724 in 3rd Quarter

Perceptronics Inc., a Woodland Hills developer of computer-simulation software used for military and commercial training, reported fiscal third-quarter and nine-month profits, despite its revenue falling by more than half.

The company said it managed the profits because it paid off 40% of its long-term debt, resulting in a one-time gain of $1.37 million.

In its fiscal third quarter that ended Dec. 31, Perceptronics earned $749,724, in contrast with a year-earlier loss of $1.95 million. Its revenue in the latest quarter was $721,360, down 58% from $1.71 million in revenue a year before.

For the nine months, the company reported a $174,824 profit, and a 58% drop in revenue to $4.04 million. A year earlier, it lost $4.85 million on $9.5 million in revenue.

Perceptronics said its revenues fell because of a temporary suspension of production on one of its software products.