Perceptronics Reports Loss in 3rd Quarter

Perceptronics Inc., a Woodland Hills-based manufacturer of computer-based simulation systems for commercial and military training, reported a loss of $73,693 for the third fiscal quarter that ended Dec. 31.

The third-quarter loss compared to a profit of $749,724 in the same three-month period a year ago, although that profit reflected an extraordinary gain of $1.37 million related to the reduction of long-term debt. Revenues for the latest third quarter were $1.49 million, more than double revenues of $721,360 reported a year earlier.

For the company's nine-month period, Perceptronics reported a loss of $21,886 on sales of $4.88 million, compared to a profit of $174,824 on sales of $4.04 million reported a year earlier.

"The defense industry in general is experiencing a lack of spending urgency, and we are feeling the effects," said Gershon Weltman, chief executive of Perceptronics. "We will . . . keep on tightening our belts with the objective of achieving better margins and returning to profitability."

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