Gradco Systems Inc. said it expects to...

Gradco Systems Inc. said it expects to report net income of $4.5 million for its fiscal year ended March 31, a 246% increase over its year-earlier net of $1.3 million. The Irvine-based manufacturer of office copier products expects revenue of about $90 million this year, up 64% from $55 million in fiscal 1987. Gradco said it expects to report final financial results next week. For the fourth quarter, Gradco expects to report that net income rose more than sixfold to $1.6 million from $217,000 in the year-earlier period, and that sales more than doubled to $27.5 million from $12.9 million. Gradco chairman Keith B. Stewart attributed the rise in sales and profits to strong sales of the company’s sorter products and the overall strength of the copier market.