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."
