Perceptronics Reverses Year-Ago Quarterly Loss

Perceptronics reported that its net income for the fourth quarter that ended March 31 was $184,522, or 6 cents a share, compared to a loss of $2.2 million a year earlier. Revenue was up 21% to $15.98 million from $13.26 million a year earlier.

The Woodland Hills company, which makes simulators used by troops who operate tanks, armored vehicles and helicopters, attributed its improved performance to an increase in orders from the Defense Department.

For the fiscal year that ended March 31, Perceptronics earned $1.6 million, or 44 cents a share, compared to a loss of $1.3 million the year before. Revenue was a record $57 million, up 49% from $38.4 million a year earlier.