Despite a 2% drop in sales, Powertec Inc., a Chatsworth manufacturer of computer power supplies, reported that profits were up 2% in the quarter ended April 28.
Powertec earned $623,000, or 23 cents a share, on sales of $5.67 million, compared with earnings of $608,000, or 22 cents a share, on sales of $5.8 million for the same quarter in 1984, the company said.
The company said it achieved higher profits on lower sales by improving its product mix and cutting costs.
For the six months ended April 28, sales were $11.1 million, 10% higher than during the same period a year ago. Earnings rose 20%, to $1.2 million, and earnings per share were up 19%, to 44 cents.
Powertec said per-share earnings have been adjusted for a 5-for-4 stock split effective May 15.
Malibu Grand Prix Posts $2.5-Million Quarterly Loss
Malibu Grand Prix Corp., a Woodland Hills amusement park company, showed a $2.5-million loss for the first quarter ended March 31. The company showed a $700,000 loss for the same quarter in 1984.