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EARNINGS

Ultrasystems Announces Record $7.1-Million Year

March 18, 1986

Ultrasystems Inc. of Irvine said Monday that its earnings for fiscal 1985 hit a record $7.1 million, compared with $394,000 a year earlier. Revenues of $152.6 million were up 8.3% from $140.9 million.

For the fourth quarter ended Jan. 31, the company, which designs and builds so-called "alternative energy" power-generating plants, had profits of $1.4 million, up from a $4.4 million loss last year that company officials said was caused by unexpected costs at two wood-burning power plants and a $3-million write-off for a never-built geothermal plant.

Fourth-period revenues were $42 million, up 25% from the $33.4 million.

John Dean, Ultrasystems' executive vice president, attributed the improved performance for the year and the fourth quarter to increased profit levels in the company's core engineering and construction activities, including the stepping up of building at its two largest projects.

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