New business in the defense industry helped Santa Ana-based Microsemi Corp. combat industry trends and post record earnings and sales for the fourth quarter and the fiscal year, ended Sept. 29.
For the year, net income rose 49% to $4 million, from $2.7 million the previous year. Sales were ahead 14% to $34.6 million from $30.3 million.
For the quarter, net income leaped 76% to $1.1 million during the fourth quarter, compared with $627,000 a year earlier. Sales jumped to $9.2 million, from $8.5 million in the year-ago quarter.
The backlog of orders at fiscal year-end dropped to $14 million, from $15.9 million a year ago.