Micro General Reports 77% Drop in 2nd Quarter

Micro General Corp. of Irvine reported net income of $7,821 for the second quarter, a 77% drop from the $34,709 earned in the same period last year. Revenues declined to $1.2 million this year from $1.3 million in last year’s second quarter.

For the six months ended June 28, the company reported a $10,475 loss, contrasted with net income of $6,234 in the same period last year. First half revenues fell to $2.2 million from $2.5 million last year.

George D. O’Leary, Micro General’s president, said sales of the company’s new computerized parcel shipping systems have increased this year, but sales of its electronic postal scales and related equipment have declined. He said Micro General has expanded and reorganized its sales department and is testing new merchandising programs, but increased expenses may adversely affect profitability through the rest of the year.