Wavetek Corp. Rebounds From Previous Net Loss
Rebounding after disposing of three product lines, Wavetek Corp. reported net income of $616,000 on sales of $17.5 million for the second quarter ended March 29. That compares to a net loss of $238,000 on sales of $19.3 million in the second quarter last year.
For the first six months, the electronic testing equipment maker reported that net income reached nearly $1.4 million, compared to a break-even performance in the same period of its last fiscal year.
Sales increased 5% and earnings rose 113% when comparing only continuing product lines, according to company President John Battin.
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