Perceptronics Inc. reported a 50% drop in its profits while its revenues fell 23% in the first quarter that ended June 30.
The Woodland Hills-based maker of computer and software simulation programs used in commercial and military training posted a slight profit of $19,827 on revenues of $1.4 million in its latest quarter. In the first quarter a year ago, the company posted a profit of $39,407 on revenues of $1.8 million.
Perceptronics' chief executive, Gershon Weltman, said in a statement that the company's "overall financial health will depend on receiving new contracts during the next quarters."
"But several larger programs are still delayed, and while we believe they will be finalized in fiscal year 1996, this is not certain," Weltman added.
As of June 30 the company had a contract backlog of $4.8 million, compared to $5.5 million on March 31.