Pico Products Inc. Posts Income Decline

Pico Products Inc., a distributor of cable television and satellite antenna systems based in Lakeview Terrace, saw its earnings fall 29% to $150,300 for the second quarter that ended Jan. 31, compared to net income of $212,506 during the same period a year earlier.

Pico’s sales for the most recent quarter climbed 12% to $8 million, compared to $7.2 million a year earlier.

For the first two quarters, the company’s earnings fell 28% to $333,204, a drop from the $464,984 reported during the same six-month period last year. However, revenues for the first two quarters increased 8% to $16.1 million from $14.9 million.

Everett T. Keech, chief executive officer, attributed the decline in net income to costs associated with new product development and expansion into international markets. He said the company expects its profits to rebound during the second half of 1995 as a result of increased sales in South America and Asia.