Pacific Scientific’s Earning $3.1 Million on 9% Sales Rise
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NEWPORT BEACH — Pacific Scientific Co. said Monday that it earned $3.1 million, or 25 cents a share, in the second quarter, while sales rose 9%.
In the same period last year, the manufacturer of electrical and safety equipment lost $3.7 million, or 30 cents a share, which included a charge of $6.1 million from discontinued operations. Sales advanced to $78.6 million from $72.2 million.
For the first half, the company posted a net loss of $7.8 million, or 62 cents a share, which included a charge in the first quarter of $13.6 million related to discontinuing its Solium subsidiary. The net loss for the first half of 1996 was $1.8 million, or 15 cents a share. Sales were up 3% to $151.1 million from $146.2 million.
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