Citing labor and other savings gained in moving its production to an overseas facility, Archive Corp., a Costa Mesa-based computer-parts maker, reported record profits for the third quarter of $1.8 million, nearly four times the $383,000 it posted a year earlier.
Archive's revenue for the period ended June 27 was $19.3 million, compared to $15.8 million posted in the year-ago quarter.
Earnings for the first nine months of the fiscal year were $4.3 million, up more than seven times the $496,000 reported a year ago. Revenues of $60.6 million were up 52% from $40.1 million.
Company officials attributed the hefty climb in net income to savings the company has begun to realize since it moved most of its production operations from Costa Mesa to Singapore. The company moved much of its plant to Singapore to take advantage of the cheaper labor, parts and the comparatively favorable tax structure.