Millennium Income, Sales Are Off
Millennium Electronics Inc., a provider of computers and upgrade components, reported lower fourth-quarter net income and sales. The company said it earned $119,593, or 1 cent a share, for the three months, down from $146,427, a year earlier. Sales fell 16% to $10.9 million from $13 million.
Net income for the year was $612,195, or 9 cents a share, down 36% from $958,439, or 18 cents a share, posted for 1996. Sales increased 38% to $47.5 million from $34.3 million.
On March 31, 1997, the company succeeded Beacon Capital Investments through a merger, then acquired NetRam Components Inc. on Sept. 30.