AML Communications Posts Record Profits

AML Communications Inc., a Camarillo producer of amplifiers and other products for cellular phone companies and other segments of the communications industry, reported record profits and revenues in the three months ended Dec. 31.

Net income totaled $300,000, or 9 cents a share, compared to $8,000, or zero cents a share, in the same period a year earlier.

Revenues in the latest quarter came to $1.8 million, versus $757,000 in the year-ago period.

In the nine months ended Dec. 31, AML had a profit of $739,000, or 23 cents a share, on sales of $4.4 million. This contrasted with a year-earlier loss of $25,000, or 1 cent a share, on sales of $1.8 million.

Jacob Inbar, AML’s chairman and chief executive, credited strong demand for the company’s wireless amplifier products for much of the improvement. “We were able to increase our manufacturing capacity and maintain the short lead times required by our customers,” he said.

AML completed an initial public offering in December through the sale of 1.2 million shares of common stock. Net proceeds came to $7.7 million.

Inbar said the company expects to move into a 25,000-square-foot building in Camarillo this spring. The new headquarters will be more than three times the size of AML’s current plant.