Continuing its recovery after a recent bankruptcy reorganization, Dense-Pac Microsystems, a Garden Grove defense electronics company, reported net income of $457,619 for its latest quarter.
The company's net income for the third quarter of its fiscal 1988 year included $462,000 from the sale of assets and technology to Electronic Memories Ltd., a British electronics firm. Electronic Memories acquired a 49% stake in Dense-Pac as part of the financial reorganization, which was completed in October.
The company had operating income of $196,000 during the latest quarter.
Dense-Pac's third-quarter sales rose 85% to $1.4 million, from $757,038 in the year-earlier period. The company lost $2.1 million in the fiscal 1987 quarter.
Dense-Pac President James G. Turner noted that sales for the first three quarters of the current year exceeded sales for the entire previous year.