SMTEK Reports Drop in Income; Revenues Increase

SMTEK International in Thousand Oaks reported first-quarter net income of $135,000, or 6 cents per share, on revenues of $15.2 million for the three months that ended Sept. 30.

This compares with net income of $232,000, or 14 cents per share, on revenues of $12.1 for the three months that ended Sept. 30, 1998.

Figures for the most recent quarter and 1998 comparison include the operating results of the company’s Irlandus Circuits Ltd. subsidiary, which was divested Nov. 12.

SMTEK provides electronics manufacturing services and multilayer circuit boards for the computer, telecommunications, instrumentation, medical, industrial and aerospace industries.