Systonetics Reports Quarterly Gain

Systonetics reported net earnings of $111,294 for its fiscal second quarter ended Aug. 31. The Fullerton-based company lost $378,670 in the comparable period in fiscal 1987.

Sales rose to $1.62 million from $1.28 million.

The company, which is still trying to recover from prior losses, said it negotiated a two-year extension, to July 31, 1989, of its bank credit agreement and also received a six-month extension on certain 10% promissory notes.

Chairman Douglas Hunt said that “notwithstanding the positive events of the last quarter . . . the company is continuing its efforts to aid growth and liquidity by engaging in discussions involving debt and equity funding, joint ventures” and “the possible sale or merger of the company.’