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VALLEY EARNINGS

Sierracin's 4-Quarter Skid Ends on 25% Jump in Sales

July 29, 1986

After losing money in four consecutive quarters, Sierracin reported a second-quarter profit of $118,000 on sales that rose 25% to $18.9 million.

During last year's second quarter, the Sylmar-based aerospace and electronics concern lost $715,000 on sales of $15.2 million. Earnings were 4 cents a share, contrasted with a loss of 21 cents a share in the same quarter a year ago.

Sierracin reported that its second-quarter earnings were reduced by a $371,000 loss from the sale of two units, one that made computer power supplies and another that made semiconductor tooling.

Joseph Swyt, company president, attributed the improved showing to stepped-up marketing and cost-containment measures. He said 15 new managers, many in sales and marketing, have been added to the company in the last seven months, yielding sharply higher sales.

Swyt said Sierracin plans to close its Chatsworth plant, which makes transparent touch panels for cars and computer equipment, in the fall and merge its operations with the company's division in Bell. Most of the 50 Chatsworth employees will be transferred to Bell or Sylmar, Swyt said.

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