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ORANGE COUNTY EARNINGS

Gradco Posts Increases in Earnings, Revenues

October 23, 1986

Gradco Systems Inc. said it posted increased earnings and revenues for its second fiscal quarter ended Sept. 30. The Irvine-based maker of paper-sorting devices for copiers reported earnings of $1.2 million, up 14.9% from $1.1 million for the same period last year. Revenues were $15.1 million, up 2% from $14.7 million last year.

For the first half, profits reached $2 million, nearly a sixfold increase from $336,000 last year. Revenues came to $28 million, a 35.1% increase from $20.7 million a year earlier.

Company officials were not available for comment. However, analysts had speculated that Gradco would enjoy a strong fiscal 1987 because earlier in the year the company strengthened its licensing agreement with C. Itoh Co. Ltd., under which Gradco products are made and sold in Japan.

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