Perceptronics’ Earnings Decline for Quarter, Year
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Perceptronics Inc., a Woodland Hills company that makes computerized simulators and other training equipment for the military, reported a 12% decline in earnings in the fiscal fourth quarter ended March 31 to $247,502 from $281,644 a year earlier. Revenues tumbled 40% to $4.88 million from $8.08 million.
For the year ended March 31, Perceptronics’ profit fell 40% to $663,723 from $1.1 million in the previous year. Revenues were $21.2 million, down 27% from $28.9 million.
The company attributed its reduced profits in the latest fiscal year to a lower sales volume due to the tightening of the U.S. defense budget.
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