General Automation of Anaheim lost $622,000 for...
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General Automation of Anaheim lost $622,000 for the third quarter ended March 31. It had a loss of $5,000 for the comparable period a year ago. Revenue rose 25%, to $13.6 million from $10.8 million for the year-earlier period.
For the nine-month period, the computer product company lost $2.2 million. It had net income of $361,000 for the like period last year. Revenue totaled $37 million, a 25% increase from the $29.7 million posted for the nine months of the previous year.
The company said that it had a reduction of $280,000 in foreign currency exchange gain for the quarter and that in a year-to-year comparison, operating expenses and interest expense were substantially higher, primarily because of two acquisitions in 1987. Research and development costs for the third quarter were also up from the year-earlier period.
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