Net Income Declines for Archive of Costa Mesa

Archive Corp. of Costa Mesa has reported third fiscal quarter net income of $383,000, a 40% decline from the $636,000 it posted a year ago.

Revenues for the computer data storage system manufacturer, however, increased 55% for the three-month period ended June 28, to $15.8 million compared with the $10.2 million it reported during the same period a year ago.

Net income for the nine-month period was $496,000 compared to $1.1 million a year earlier. Sales were $40.1 million compared with $27.4 million.

Joe Martin, chief financial officer, blamed the earnings decline on Archive’s introduction and improved design of a new inch tape system. “We are now through that . . . and we expect to be profitable in the future,” Martin said.