EIP Microwave Posts Loss for Quarter
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EIP Microwave, Newport Beach, reported a loss of $192,000 for its first quarter ended Dec. 31, 1988, contrasted with a year-earlier loss of $729,000. Sales rose 26% to $3.1 million from $2.5 million.
The current year’s first-quarter loss included a pretax charge against operations of $1.1 million resulting from the write-down of certain assets associated with the company’s realignment of technical, financial and management resources. Partially offsetting the loss was a gain of $748,000 resulting from an accounting change.
The company manufactures microwave test and measurement instruments used in the defense and telecommunications industries.
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