Microsemi Corp. posted record net earnings of $5.4 million for its 1986 fiscal year ended Sept. 28, up 35% from fiscal 1985 earnings of $4 million.
Revenue for the period, also a company record, rose 12% to $38.7 million from $34.6 million.
For the fourth quarter, Microsemi reported net earnings of $1.48 million, a 34% increase from $1.1 million for the final period of its fiscal 1985. Revenue for the fourth quarter was up 13% to $10.4 million from $9.2 million.
David Sonksen, vice president of finance for the Santa Ana semiconductor company, said Microsemi's performance in the face of a continued slump in the industry came largely because the company has avoided the volatile consumer market and concentrated on selling its product to the military and to aerospace and industrial users.
The result, he said, is that Microsemi did not enjoy the soaring peaks that some semiconductor firms reported when personal computers and other consumer electronics were booming, but neither has its earnings curve plunged into a valley with the slowdown of that market.
In addition, Sonksen said, attrition has enabled the company to pare the payroll in its Arizona facility by about 14% in the past year, shaving a considerable sum from overall expenses.