Spectrum Control 3Q Profit Falls

FAIRVIEW, Pa. (AP) — Spectrum Control Inc., which makes custom electronics for the defense and communications industries, said Thursday its third-quarter profit dropped 13 percent, due in part to a dip in sales.

For the quarter ended Aug. 31, net income slipped to $2 million, or 16 cents per share, from $2.4 million, or 18 cents per share, in the prior-year quarter. Revenue fell 5 percent to $31.5 million from $33.1 million.

The company said that although its total customer orders rose 4 percent, there were timing issues that impacted actual sales.

Looking ahead, the company said it expects fiscal fourth-quarter profit between 16 cents and 18 cents per share on revenue of $32.5 million to $33.5 million. That would compare with year-ago earnings of $2.5 million, or 20 cents per share, on sales of $33.8 million.

Shares rose 2 cents to close at $9.79.