Micom Earnings Off 63% in Quarter; Sales Up 3%

Beset by weak demand for its products, Micom Systems said that its earnings fell 63% to $2.4 million for the first quarter of its fiscal year ended June 30.

Sales increased 3%, to $46.4 million, over the same quarter a year ago. Earnings per share were 14 cents, down from 38 cents.

“We continued to experience slowness in most segments of our business during the quarter, which was compounded by our establishing and training a direct sales organization during the same period,” said President William Norred.

Based in Simi Valley, Micom makes computer communications equipment and has facilities in Northridge and Chatsworth as well as in Massachusetts, Puerto Rico and England. Last month it shut down manufacturing operations in Chatsworth and laid off 95 workers. The month before, it laid off 80. It has about 2,000 employees worldwide.

Sierracin Reports Net Loss of 9 Cents a Share

Sierracin Corp. reported a net loss of $289,000, or 9 cents a share, for its second quarter ended June 30. The company earned $1.0 million during the same period last year. Revenues for the second quarter were $19.2 million, down 9% from the second quarter of 1984. For the six months ended June 30, Sierracin lost $125,000, or 4 cents a share, compared with net income for the first half of last year of $1.9 million. Sales were $38.4 million, down 8% from a year ago.

The Sylmar company makes aerospace and electronics products, including photomasks used in the production of integrated circuits. Gary N. Patten, vice president for finance, blamed the company’s second-quarter loss on the electronics division, which he said is suffering from the computer industry slump.

Amgen, a Thousand Oaks biotechnology company, said Monday that its loss for the first quarter ended June 30 was about the same as it posted in the same period last year, while revenue rose 77%. In the most recent quarter, Amgen lost $2,035,000, or 19 cents a share, on revenue of $3.3 million, versus a loss of $2,066,000, or 19 cents, on revenue of $1.9 million in the same quarter a year earlier.

Amgen also announced the formation of a partnership with Arbor Acres of Glastonbury, Conn., a supplier of broiler breeding stock, to apply advanced genetic techniques to chickens and turkeys.

Superior Industries International reported record sales and earnings for its second quarter ended June 30. Sales for the quarter were $34.7 million, a 25% increase over the same period a year earlier. Net income for the quarter was $2.3 million, or 48 cents per share, more than triple the earnings in the corresponding period of 1984.

American Ecology Corp. reported sales of $14.4 million for its second quarter ended June 30, an increase of 35% over the same period a year ago. Net income was $1.5 million, or 51 cents a share, up 12% over last year’s second quarter. The firm has two main divisions. One disposes of radioactive and toxic wastes and the turns garbage into energy.

Sales at Calabasas-based Creative Computer Applications were $1.2 million for its third quarter ended May 31, nearly triple the corresponding period last year. Net income for the period was $103,085, or 1 cent per share, against a loss for the quarter last year of $227,073. Company officials attributed the improved performance to better sales of their data management systems.

The Cherokee Group of North Hollywood reported sales of $19.2 million for its second quarter, which ended June 1, up 14% over the corresponding period in 1984. Net earnings were $905,000, or 32 cents a share, an increase of 118% from the same period last year.

The company reported sales of $41.7 million for the first six months of its fiscal year 1985, up 36% over last year’s corresponding half. Profits for the period were $1.8 million, or 64 cents a share, up 63%. The firm manufactures shoes and other apparel and has nine retail outlets in the Los Angeles area.

Zero Corp., a Burbank-based manufacturer of cabinets and other accessories for the electronics industry, reported sales for its first quarter ended June 30 of $29.9 million, an increase of 10% over the corresponding quarter last year. Net income was $2.7 million, or 28 cents per share, nearly a 4% increase over the same period last year.

Encino-based Lincoln Bancorp, parent company of Lincoln National Bank, reported net income for the second quarter ended June 30 of $272,140, or 20 cents per share, up 51% from the corresponding period last year.

Total assets at the end of the quarter were $139.6 million, up nearly 14% from this year’s first-quarter close on March 31. Assets were up 36% over June 30, 1984. Total deposits were $129.7 million, also up nearly 14% from March 31. Deposits were up 35% over June 30, 1984.

For details and reports of other companies, see tables on Page 7.