Maker of Computer Parts Posts $2 Million in Profits

Archive Corp., a Costa Mesa manufacturer of computer memory back-up devices, reported profits of $2 million for its fiscal 1987 third quarter, more than four times the $430,000 earned in the same period in 1986.

Archive said it logged record sales of $24.4 million for the quarter ended June 26, up 26% from $19.3 million a year earlier.

For the first nine months of the company’s fiscal year, net income was $3.8 million, a 32% increase from $2.9 million in its fiscal 1986. Sales of $63.7 million were up 5% from $60.6 million a year earlier.

B.J. Rone, Archive’s chief financial officer, said the dramatic earnings improvement reflects a combination of cost reductions and rapidly increasing demand for Archive’s tape drives.

The company said it received orders totaling $32.5 million during the third quarter and ended the three months with a $20-million backlog. During July, Archive has received additional orders totaling $7.9 million.