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EARNINGS

Silicon Systems Says Earnings in 3rd Quarter Increased 33%

July 19, 1987|WARREN VIETH

Silicon Systems Inc. of Tustin, a manufacturer of integrated circuits, reported fiscal 1987 third quarter net earnings of $737,000, up 33% from the $556,000 reported a year earlier. Revenue for the period ended June 27 was $20.8 million, a 6% increase from the year-earlier $19.7 million.

For the first nine months of its fiscal year, Silicon Systems recorded earnings of $1.4 million, compared with a loss of $1.7 million in fiscal 1986. Sales for the nine months were $57.7 million, up 22% from $47.1 million a year earlier.

The company said new orders for the third quarter were $23.1 million, an increase of 18% over the second-quarter total of $19.5 million. Silicon Systems ended the quarter with a backlog of $31.5 million, up 8% from the preceding quarter.

Chairman Carmelo Santoro said the company should benefit from the industry's gradual conversion from 5.5-inch data storage disks to the 3.5-inch disks used in IBM's new line of personal computers. Silicon Systems manufactures chips used in computer disk drives.

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