EECO’s 3rd Quarter Net Dips 25.5% to $562,000

EECO Inc. reported fiscal 1987 third quarter net income of $562,000, down 25.5% from the $755,000 reported a year earlier. Revenue for the period ended Sept. 27 was up 22% to $19.2 million from $15.8 million in the third quarter of the computer products and electronic equipment maker’s fiscal 1986.

For the first nine months, EECO reported net income of $809,000, down 55% from $1.8 million a year earlier. Sales for the nine months increased 27% to $54.9 million from $43.4 million.

The company said that new orders for the 1987 third quarter totaled $21.3 million, up 25% from $17 million a year earlier. New orders for the first nine months were up 32% to $62.5 million from $47.3 million. Backlog on Sept. 27 totaled $26.7 million, a 40% increase from the $19.1 million reported on Dec. 31, 1986.