Pico Products Reports Profit Increase of 35%

Pico Products Inc., a Lakeview Terrace maker of cable television parts, said its profit for the fourth fiscal quarter that ended July 31 was up 35% to $221,250 from $164,480 the previous year. The gain was on a 9% increase in revenue to $7.2 million from $6.6 million in the fourth quarter last year.

For the full fiscal year, the company reported a record profit of $905,015 versus a loss of $276,648 last year. The surge was on revenues of $29.9 million, up 26% from $23.7 million.

Peter Moerbeek, Pico’s chief financial officer, attributed the year’s results to strong sales overseas, particularly in South America, where demand for cable television services is growing. Pico provides amplifiers, electronics and other parts needed to hook up cable television systems to hotels and apartment buildings. Wiring individual buildings for cable--as opposed to entire cities--is becoming common outside the United States, Moerbeek said.