General Automation Inc., which has struggled for years to reverse its sliding fortunes, Tuesday confirmed Wall Street projections that it will post a profit of $540,000 to $810,000 for the fiscal year ending June 30--the company's first operating earnings in eight years.
In a briefing for analysts earlier this week, Chairman Leonard Mackenzie said the computer manufacturing and marketing company expects to report revenue of $42 million for the year. For the third-quarter, he said, revenue should be about $10.8 million, a 33% increase over the previous year.
The company did not reveal whether it will report a profit or a loss when its results for the quarter ended March 31 are released later this week. But for the first six months of the fiscal year, the company had revenue of $18.9 million and profits of $366,000.
In reviewing General Automation's plans for fiscal 1988, Mackenzie said the company hopes revenue will grow 45% to between $65 million and $69 million. He said the company continues to study possible acquisitions and will look to private investors for the additional operating funds the company will need to fuel its growth.