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Semco Instruments Inc. Reports $140,466 Loss

REGIONAL EARNINGS

April 09, 1991

Semco Instruments Inc., a Valencia company that makes electronic recorders, sensors and other components for the aerospace industry, reported a $140,466 loss for the fourth quarter that ended Dec. 31, compared to a $48,230 profit a year earlier. Sales fell 8% to $1 million from $1.1 million in the fourth quarter of 1989.

Semco said the fourth-quarter loss in 1990 was due to reduced demand for its products because of the economic downturn. The company also blamed the loss on an adjustment made for bad debt of Pan American World Airways and a lower-than-expected settlement of a canceled order from Textron Lycoming.

For the year, Semco reported net income of $184,585, down 29% from $260,723 in net income in 1989. Revenues increased 36% to $5.5 million from $4.1 million.

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