Archive Corp. Downplays First-Quarter Income Drop
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Citing an industry-wide slowdown, Archive Corp., a Costa Mesa computer parts maker, reported net income of $607,000 for its fiscal 1987 first quarter, a 42.3% drop from the $1.05 million reported a year earlier.
Revenues for the quarter ended Dec. 27 were $19 million, down 8.2% from the $20.7 million posted a year earlier.
Archive executives downplayed the slump in earnings, noting that performance had improved over preceding quarter, when Archive posted a sizeable loss of $845,000.
“We feel we’ve finally hit bottom as far as decreases . . . and will now start to see an upturn,” said Joseph I. Martin, vice president of finance.
Martin predicted that Archive’s performance would be boosted by new orders, production of three new products and the shifting of some manufacturing to the company’s Singapore plant.
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