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EARNINGS

Acquisitions Boost Pacific Scientific's Sales by 79%

July 21, 1987

Pacific Scientific Co., an Anaheim-based electronic equipment and electric motor manufacturer, said recent acquisitions boosted sales 79% to $40.6 million during the second quarter, up from $22.7 million a year ago. Second-quarter earnings were unchanged at $1.3 million for both years.

For the first half, however, the company reported earnings of $2.6 million, up 7% from $2.5 million during the same period in 1986. Six-month sales increased 64% to $73.6 million from $44.9 million a year earlier.

The company said earnings so far this year were entirely from operations, while gains from the sale of securities accounted for $680,000, or 27%, of 1986 first-half income.

Pacific Scientific said the acquisition of HTL Industries and Sigma Instruments in December, 1986, contributed $28 million in additional sales and $1.2 million in net income during the first half of 1987.

In a prepared statement, Pacific Scientific President Edgar Brower said the company would continue to consolidate operations and expects strong fourth-quarter sales based on the current backlog of orders for aerospace products.

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