California Amplifier Posts 175% Sales Jump

California Amplifier in Camarillo said that sales for the fourth quarter ended Feb. 26 increased 175% to $27.7 million, compared with just over $10 million for the fourth quarter of the previous year.

Net income for the quarter, before a $9.5-million charge to settle a class-action securities lawsuit, was $1.8 million or 13 cents per diluted share, compared with $91,000, or 1 cent per share for the fourth quarter of fiscal year 1999.

Sales for the year increased 131% to $85.6 million, compared with $37.1 million for fiscal year 1999. The company’s net income, before the $9.5-million charge, was $4.6 million or 35 cents per diluted share, compared with a net loss of $1.4 million or 12 cents per share for fiscal year 1999.

The fourth quarter and fiscal year 2000 net losses, which include the $9.5-million charge, were $4.2 million or 34 cents per share and $1.3 million or 12 cents per share, respectively.

Chief Executive Fred Sturm said California Amplifier’s acquisition of Gardiner Communications’ satellite DBS products last April was the main reason for the improved sales and operating performance.

California Amplifier designs microwave amplifiers, downconverters and antennas.