DDL Electronics’ Revenue Reaches $11.18 Million

DDL Electronics in Newbury Park announced revenue of $11.18 million for its second quarter ended Dec. 31, compared with $6.02 million for the second quarter of the previous year.

For the six months ended Dec. 31, revenue was $21.08 million, compared with $12.22 million in the first six months of the prior year.

DDL provides design and electronic manufacturing for the instrumentation, communications, computer, medical and aerospace industries.

Company officials said the revenue increases resulted from the acquisition of SMTEK Inc. in January 1996 and a 20% increase in sales by DDL’s manufacturing operation in Europe.

A net loss of $531,000, or 2 cents per share, was incurred in the second quarter, compared with a net loss of $348,000, or 2 cents per share, in the second quarter a year earlier. For the six months ended Dec. 31, the net loss was $1.25 million, compared with net income of $736,000 in the first six months of the previous year, which included an income tax benefit of $1.11 million.

DDL said the net losses in the quarter and six months resulted primarily from nonoperational charges associated with the SMTEK acquisition.