EECO Inc., a Santa Ana-based manufacturer of electrical switch products and computer systems, Thursday reported third-quarter earnings of $840,000, up 19.5% from the $703,000 posted a year earlier. Revenues for the period were $14 million, up 13.8% from $12.3 million in 1984.
But the gain on actual operations was larger than the financial report shows. EECO's 1984 results were bolstered by a large tax credit and without it the company would have posted a third-quarter 1984 loss of $269,000 and a nine-month loss of $73,000.
Still, for the first nine months of 1985, net income of $1.1 million was up 22.4% from the $899,000 reported for the first three periods of 1984. Revenues for the period were $40.1 million, an increase of 18.3% from the year-earlier total of $33.9 million.
Robert C. Milo, chief executive officer, attributed the improved performance to a combination of increased sales during the quarter and recently instituted cost-cutting measures.