Perceptronics’ Earnings Decline for Quarter, Year
Perceptronics Inc. in Woodland Hills reported that its profit declined in its fiscal fourth quarter and year ended March 31, despite a big jump in revenues.
The maker of tank simulators and other military training equipment said its profit fell 38% in the fourth quarter, to $154,476 from $247,502 a year earlier. Its revenue, however, climbed 50% to $7.34 million from $4.88 million.
Perceptronics’ annual profit totaled $534,585, down 19% from a profit of $663,723 in the previous year. Its revenue for the fiscal year was $25.5 million, a 20% gain from $21.2 million a year earlier.
The company blamed its lower earnings for the year on $1.2 million in losses because of “improper and excessive charges by one of our subcontractors.” It said it is pursuing its previously announced legal action against the Israeli subcontractor.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
