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/ BARBARA MURPHY

Whittaker Reports Increase in Quarterly Sales

September 08, 1998|BARBARA MURPHY

Whittaker Corp. in Simi Valley announced that sales from continuing operations for the third quarter ended July 31 were $33.9 million, compared with $22.5 million for the third quarter of fiscal 1997.

Income from continuing operations was $28.5 million or $2.53 per share, which included benefits from prior-year tax losses of $23 million or $2.04 per share. In last year's third quarter, Whittaker suffered a loss from continuing operations of $4.2 million or 38 cents per share.

The loss from discontinued operations, which included the integration-services business and the company's discontinued Xyplex Networks and defense electronics units, was $22.8 million or $2.05 per share.

"Whittaker Corp. is having an outstanding year in 1998," said chairman and CEO Joseph F. Alibrandi. "Sales and operating profits continue to be at historically high levels, cash flow is strong and the future outlook for our business is favorable. With the completion of our divestiture program, we can now focus on further growth and improvement in our aerospace core."

Whittaker develops fluid control and fire safety systems for aerospace and industrial applications.

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