EIP Microwave Reports $62,000 Net for Quarter
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EIP Microwave Inc. of Newport Beach reported earnings of $62,000 for the third fiscal quarter ended June 30, more than double the $30,000 posted in the same period a year ago. Sales for the company’s third quarter were $4.7 million, down 1% from a year earlier.
For the first nine months of EIP’s 1987 fiscal year, the company reported earnings of $204,000, down 13% from $234,000 a year ago. Nine-month sales were $15.1 million, up 3% from $14.6 million.
EIP, which makes microwave devices used in the defense and communications industries, attributed the earnings improvement primarily to cost reductions.
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