Citing increased sales to its military and aerospace customers, Microsemi Corp. reported a 49% increase in earnings and a 14% hike in sales for its second fiscal quarter ended March 31.
Net earnings for the Santa Ana-based company rose $993,000 from $665,000 for the same period last year. Sales increased to $8.2 million from $7.2 million for the 13-week period ended April 1, 1984.
The company also said its backlog of new orders continues to be strong, rising to $16.5 million from $15.1 million at the start of the quarter and $11.5 million a year ago.
Microsemi is a supplier of computer parts for use in the aerospace-defense, medical, communications and automotive markets.
In an unrelated matter, the company said Monday that it plans to refurbish its present 43,000-square-foot facility on Fairview Avenue with proceeds from a $6.5 million industrial bond issued by the City of Santa Ana.
According to company president and chief executive officer, Philip Frey Jr., the 20-year bond will provide investors with a tax-free interest rate of 9.25% and provides the company with cash to refurbish and re-finance Microsemi's current facility and build a new, 45,000-square-foot plant.