November 24, 1992
Perceptronics Inc., suffering the effects of the nation's defense slowdown, reported a fiscal second-quarter loss of $2.91 million and said it missed a $1.7-million principal payment on its debt. The Woodland Hills-based maker of simulators and other training equipment said the loss in the quarter ended Sept. 30 compared with year-earlier profit of $240,601. Perceptronics' revenue plunged 64%, to $2.40 million from $6.
February 23, 1993
The ongoing cutbacks in defense spending left Perceptronics Inc. with a $1.95-million loss in its fiscal third quarter, compared with a year-earlier profit of $49,036. The Woodland Hills-based producer of simulators and other training equipment said the loss came on a 71% plunge in its revenue, to $1.71 million for the quarter ended Dec. 31 from $5.82 million a year earlier.
August 27, 1991
Perceptronics Inc., a Woodland Hills maker of electronic tank simulators and other military training equipment, said its fiscal first-quarter profit dropped 40% from a year earlier on a 10% decline in revenue. For the quarter ended June 30, Perceptronics' earnings fell to $90,472 from $149,539 a year earlier, and its revenue fell to $5.6 million from $6.2 million. The company attributed the decline in revenues to a slower-than-expected start of two production programs.
July 2, 1991
Perceptronics Inc., a Woodland Hills maker of computer simulator systems for the military, said it has delivered prototypes of two new simulator systems to the U.S. Air Force and a large German defense company. The company declined to disclose the value of the two contracts. The simulators have been under development for the past year and the prototypes have passed initial performance tests, the company said.
January 11, 1994
Perceptronics Inc., a struggling Woodland Hills maker of computer-simulation and software systems, said three creditors will retire $4 million of its debt and preferred shares in a plan that will return the company to a positive net worth by next spring. Under the agreements, the creditors will receive $414,000 plus 259,000 shares of Perceptronics' common stock. Perceptronics is primarily a military contractor. Its losses are the result of the steep decline in military spending.
February 18, 1992
Perceptronics Inc., a Woodland Hills maker of tank simulators and other military training equipment, blamed a dispute with a foreign subcontractor for a 70% drop in earnings in its fiscal third quarter ended Dec. 31. The company's profit fell to $49,036 in the latest quarter from $162,583 a year earlier. Its revenue, however, rose 8% to $5.82 million from $5.4 million. In the nine months ended Dec.
July 20, 1993
Perceptronics Inc. in Woodland Hills reported a $4.7-million loss in its fiscal fourth quarter that ended March 31, and warned that it could seek bankruptcy protection unless the company met certain financial needs within months. The Woodland Hills maker of tank simulators and other military training equipment attributed the big loss to lower revenue, restructuring and development costs, legal expenses and $2.8 million set aside for future losses.
CALIFORNIA | LOCAL
November 23, 1999
Perceptronics, Woodland Hills, announced a net loss of $247,658 for the second quarter ended Sept. 30, compared with income of $78,200 for the same period last year. Revenues dropped to $303,400 from $1.5 million. Perceptronics develops and manufactures computer-based simulation systems and software for military and commercial training programs.
April 16, 1996
Perceptronics posted a small profit in its third quarter that ended Dec. 31 after a loss in the same period a year earlier. In the latest quarter, Perceptronics posted net income of $54,370, compared with a loss of $73,692 in last year's third quarter. Revenues in the latest quarter rose 33% to $1.98 million, up from $1.49 million. For the nine-month period, Perceptronics, based in Woodland Hills, saw its net income climb to $99,528, versus a loss of $21,886 a year ago.
August 21, 1990
Perceptronics Inc., a Woodland Hills maker of computer simulators for training military personnel, said its net income rose 32% in its fiscal first quarter that ended June 30, to $149,539 from $113,596 a year ago. But the company's chief executive, Gershon Weltman, said the company expects "lower sales and possibly a modest loss" in its second quarter, because a major contract is ending. Weltman said in a statement that he then expects results in the second half to improve.