Perceptronics Shows Profit in 1st Quarter

Perceptronics Inc. posted a profit of $68,909 for its first quarter, compared to a $261,245 loss a year ago.

The Woodland Hills maker of computer-based simulation systems and software for military and commercial markets reported revenues of $978,609 for the quarter ended June 30, up 49% from $655,510 a year earlier.

For its fiscal year ended March 31, Perceptronics posted a net income of $56,427, down 51% from a net income of $116,187 a year earlier. Sales for the year were $3.2 million, down 47% from $6 million in 1996.

The company said its poor performance in fiscal year 1997 was due mainly to delays in several contracts. The computer concern added that it has recently been awarded seven contracts in the area of simulation and training totaling approximately $5.5 million.

Three of the contracts are for providing new software technology for high-speed network communications, three for customer support and another to upgrade simulators used by the U.S. Department of Energy.