Citing a strong market for office copier equipment, particularly products for high-quality laser printers, Gradco Systems reported earnings for its third quarter ended Dec. 31 of $1.3 million on sharply higher revenues, contrasted with a year-ago loss of $894,000.
The Irvine-based manufacturer of paper-handling products for copiers and printers said its revenues rose 75% to $24.8 million from $14.2 million in the year-earlier period.
Gradco's earnings "are right on target," said Donna M. Hostetler, an analyst for Crowell, Weedon & Co.
Hostetler attributed Gradco's hefty revenue growth to the firm's December, 1986, acquisition of Zyad Inc., a New Jersey manufacturer of paper feeders for laser printers.
Gradco Chairman Keith B. Stewart said in a statement that the improved quarterly figures were the result of "strong new orders" for laser printer products and "continued strength and growth in the copier market."