Odetics Fiscal Year Net Sets Record

ANAHEIM — Electronics manufacturer Odetics Inc. posted record profit for the last fiscal year on a 19% gain in sales.

The company reported net income of $2.5 million, or 40 cents a share, for the year ended March 31, compared with a net loss of $4.7 million, or 80 cents a share, for the preceding year. Sales rose to $104.6 million from $87.7 million.

Net income for the fourth quarter totaled $1.1 million, or 18 cents a share, contrasted with a net loss of $1.9 million, or 33 cents a share. Odetics said the prior year’s fourth quarter included a pretax charge of $416,000 for loss reserves related to a dispute with a major customer. Sales were up 60% to $31.1 million from $19.6 million.