AML Communications in Camarillo reported gains in the fourth quarter ended March 31 but a decline for the year compared with the year before.
Net sales for the fourth quarter climbed 57% to $3.9 million, compared with $2.5 million a year ago. Net income more than tripled to $189,000 or 3 cents per diluted share, compared with $52,000 or 1 cent per diluted share for the same period a year earlier.
Included in the results for the fourth quarter was a $150,000 reserve or about 2 cents per diluted share, to cover contingency legal expenses with respect to a shareholder lawsuit filed against the company in March.
Net sales for fiscal 1998 were $12.8 million, compared with $14.1 million in the prior year. Net income for the same period was $686,000 or 11 cents per diluted share, compared with $2.1 million or 34 cents per diluted share in fiscal 1997.