Oak Industries reported $8.2 million in net income, including an $18.2-million, one-time gain from a patent-litigation settlement, for the fiscal year ended Dec. 31, 1987. Oak would have reported a $12.5-million loss from operations without the gain. Oak's revenue rose by 20% to $182 million for 1987.
Oak reported $60.2 million in net income and a $30.3-million operating loss for 1986. That year's net income included extraordinary gains from the sale of Oak's materials segment.
Oak reported a $4.2-million net loss and revenue that rose by 9% to $46.5 million for the fourth quarter ended Dec. 31. The company reported a $2.9-million net loss for the previous fourth quarter.
Oak will "continue its strategies of ongoing cost-control efforts, aggressive marketing of existing products, the identification and development of new product opportunities and the acquisition of profitable, cash-generating companies," a spokeswoman said.