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ROUNDUP / BARBARA MURPHY

California Amplifier Reports Drop in Sales

March 25, 1997|BARBARA MURPHY

California Amplifier in Camarillo announced preliminary sales figures of $8.9 million for the fourth quarter ended March 1, compared with sales of $18.1 million for the fourth quarter of fiscal 1996.

Sales for fiscal 1997 were approximately $49.2 million, compared with $61.6 million for fiscal 1996.

Ira Coron, company chairman and chief executive officer, said the fourth quarter figures continue to reflect a softness in sales of wireless cable and satellite television products.

"Although the actual operating results will be reported on or about April 9 upon the completion of the annual audit examination, it is apparent that the fourth quarter will have an operating loss due to the decline in sales," Coron said.

Despite the loss, Coron said, California Amplifier's cash position was strengthened to $3.15 million, primarily due to improvements in inventory and accounts receivable.

"As we begin the first quarter of fiscal year 1998, we believe that the first-quarter sales will exceed fourth-quarter amounts because of anticipated shipments to certain international markets as well as initial sales of digital products to domestic operators," Coron said.

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

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