Odetics Reports $181,000 in 3rd Quarter Net Income

Bouncing back from a heavy loss in its first quarter, Odetics Inc., the Anaheim robotics company, reported a second straight period of profitability with third quarter net income of $181,000, compared with $16,000 in the same period a year earlier. Profits in the fiscal 1985 third quarter were impacted by a $246,000 reduction in earnings for expenses incurred in a stock exchange offer.

Revenues for the fiscal 1986 third quarter ended Dec. 31 reached nearly $8.2 million, the third highest quarterly sales in the company’s 17-year history, compared with $8.1 million in sales in the same quarter the previous year.

A $510,000 loss in the first quarter, however, has kept Odetics in the red, with a nine-month cumulative loss of $307,000, compared with net income of $311,000 in the previous nine-month period.

Revenues in the first nine months of fiscal 1986 hit $24.2 million, a 7% increase over sales of $22.6 million.