Pacific Scientific Co.: The Newport Beach electrical...
Pacific Scientific Co.: The Newport Beach electrical equipment manufacturer said Monday that it has begun shipments of new energy-saving fluorescent lighting systems, which company officials say could increase annual sales by $50 million to $100 million over the next two years.
The new product, Solium, was shipped to Pergament Home Centers, a regional chain of home improvement stores in the Northeast.
The failure of Pacific Scientific to line up a major lighting company to distribute the product caused some trepidation among investors last spring, when the company’s stock declined more than 20% in one month. The company posted a profit of $9.5 million in 1994 on revenue of $235 million.
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