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INDUSTRY NOTES

New Contracts to Total $12.8 Million for Archive

December 17, 1985

Archive Corp. said it signed three contracts worth a total of $12.8 million.

The Costa Mesa-based maker of cartridge tape drives, which provide backup storage capacity for a computer, said the contracts include an $8.5-million order from Kamerman Labs of Beverton, Oregon, a maker of personal computer systems; a $3-million order from American Mitac Inc., a Santa Clara-based maker of computer systems for China; and a $1.3-million order from a unit of Atlanta-based Harris Business Information Systems, a maker of office automation systems.

Last month, Archive reported net income of $1 million for its fiscal year ended Sept. 27, off 44% from $1.8 million the prior year. Archive said the decline was a result of the company's investments in increased production capacity of tape drives in both their Costa Mesa and Singapore facilities.

Revenues for the year were up 57% however, to $57.8 million from $38.2 million. In reporting the results, Archive executives said the expansion of its two plants would allow it to resume "steady improvement in profitability."

Archive said it expects results for its fiscal first quarter ending Dec. 27 to be "substantially better" than the comparable period a year earlier when the company reported net income of $55,000 on revenue of $11.1 million. Joe Martin, vice president of finance, also said the company expects to sign some major contracts in the next few months.

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