Scan-Tron Corp. posted fiscal 1987 second-quarter net earnings of $527,000, a 13.7% decrease from $611,000 recorded for the same period last year. The company said its earnings for the most recent quarter were lower than anticipated because the new federal tax laws eliminated a $201,000 investment tax credit. The company's second quarter earnings for its fiscal 1986 reflect an investment tax credit of about $85,000.
The Tustin-based publisher of test-scoring forms and manufacturer of scoring equipment reported a slight revenue drop of 1.2% for the quarter, to $6.5 million from $6.6 million.
Six-month earnings showed an 8.3% increase to $1.3 million, compared to $1.2 million a year earlier. Half-year revenues totaled $13.2 million, up 7.3% from sales of $12.3 million for the first six months of fiscal 1986.
John T. Saunders, the company's president and chief executive officer, said Scan-Tron would have realized a $201,000 investment tax credit from its 5-for-4 stock split in September had it not been for changes in federal tax laws.