California Amplifier Sales Plunge, Leading to Loss

California Amplifier in Camarillo reported a net loss for the fourth quarter ended March 1 and a sharp decline in its net income for the fiscal year.

The company incurred a net loss for the quarter of $908,000, or 8 cents per share, compared with net income of $1.67 million or 14 cents per share for the fourth quarter a year earlier. Sales decreased to $8.85 million from $18.1 million for the fourth quarter of the previous year.

Sales for fiscal year 1997 decreased to $49.29 million, from $61.59 million for fiscal 1996. Net income for the year decreased to $633,000, or 5 cents a share, from $4.96 million or 41 cents per share for the year ended March 2, 1996.

“The slowdown in sales of wireless cable products, which began during the second quarter, continued into the fourth quarter of fiscal year 1997,” said Ira Coron, chairman and chief executive officer. “The introduction of digital wireless cable in the United States was delayed as certain Bell operating companies evaluated their video delivery strategy.”

Coron said the sales decrease, along with price cuts caused by soft market conditions and plant underutilization, resulted in reduced gross profits and gross margins. “We are focused on reversing these trends,” he said.

California Amplifier designs amplifiers, downconverters, antennas and integrated products for the reception of microwave signals used primarily in the delivery of multichannel television.