Microdyne Corp, the Alexandria, Virginia-based telecom equipment and services company, has reported preliminary fourth quarter net profits of $300,000 for the year to 30 September 1998. The acquisitions of four companies in August to form the Advanced Technology Group generated an extra $5.1m in revenues, bringing the group to $58.3m, up 34%, or 22% excluding the acquisitions. The ATG will be added to Microdyne Outsourcing Inc, which provides outsourced technical support and repair services for electronic products companies, and Microdyne Communication Technologies Inc., the global developer and manufacturer of aerospace telemetry receivers for use in data gathering and analysis. In addition to a one-time charge of $4.4m, Microdyne suffered a $1m loss due to slowed sales and accounting practices from the ATG, although the company expects the ATG to contribute to 1999 results. These charges reduced net profits from $7.2m, up 38% on the previous year, to $300,000, or $0.02 per share. The audited results are due in late November.
