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California Amplifier Reports 2nd-Quarter Loss

September 24, 1996|Barbara Murphy

California Amplifier in Camarillo reported a substantial decrease in sales for its second quarter ending Aug. 31, resulting in a net loss of $209,000 or 2 cents a share.

Second-quarter sales in fiscal year 1997 decreased to $11.46 million, compared to $14.5 million for the second quarter of fiscal year 1996. In last year's second quarter, the company reported net income of just over $1 million, or 9 cents per share.

Six-month sales increased to $28.73 million, compared to sales of $27.17 million for the six-month period of the prior year. However, net income for the first two quarters of this year decreased to $1.41 million, or 11 cents per share, compared to net income of $1.92 million, or 16 cents per share, for the same six-month period of fiscal year 1996.

Ira Coron, chairman and chief executive officer, said the slump was caused by a variety of factors, including reduced shipments to international markets, primarily Asia, and continued softness in the domestic market as many operators await the advent of digital technology in 1997.

"These lower sales volumes, accompanied by higher operating costs--including costs associated with the development of new digital products--resulted in the quarterly operating loss," Coron said.

Officials expect the losses to continue into the third quarter.

California Amplifier designs and manufactures amplifiers, converters, antennas and other products for the reception of microwave signals used primarily in conjunction with the delivery of multichannel television.

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