ORANGE COUNTY EARNINGS

Smartflex Systems Inc.: The Tustin electronic manufacturing services company said earnings for the fourth quarter were $515,000, or 8 cents a share, down 73% from $1.9 million, or 30 cents a share, for the same 1996 period. Revenue was up 5% to $38.1 million from $36.2 million. For the year, the company posted a net loss of $4.1 million, or 65 cents a share, which included a one-time, pretax restructuring charge of $6.5 million. Smartflex earned $7.2 million, or $1.14 a share, in 1996. Revenue declined 9% to $133.3 million from $146.1 million.