Pico Products Reports Profit in 3rd Quarter

Pico Products Inc., a Lakeview Terrace marketer of components for cable-television systems, reported a $10,725 profit for its fiscal third quarter, compared with a year-earlier loss of $321,256.

The profit in the quarter ended April 30 stemmed from a $587,761 gain from a restructuring program at Pico Products, which has “produced significant operating and debt savings,” the company said. Its third-quarter sales fell 20% from a year ago, to $4.42 million from $5.54 million.

For the first nine months of its fiscal year, Pico Products lost $986,089 compared with a year-earlier loss of $1.05 million, and its nine-month sales dropped 24% to $13.4 million from $17.6 million.