Whittaker Reports Increase in Annual Sales

Whittaker Corp. in Simi Valley said sales from continuing operations for the year that ended Oct. 31 were $131.4 million, compared with $89.7 million for fiscal 1997.

The operating profit from continuing operations was $39.3 million, compared with an operating loss of $10.8 million the previous year.

“Whittaker had an outstanding year in 1998,” said Joseph F. Alibrandi, chairman and chief executive officer. “During the year, our two aerospace businesses achieved record sales and operating profits and debt were reduced by over $68 million. With strong cash flow, a [$36-million line of] credit and a strong market position, Whittaker is well-positioned to grow in 1999.”

Income from continuing operations for 1998 was just over $40 million or $3.56 per share.

A year earlier, Whittaker reported a loss from continuing operations of $28.2 million or $2.54 per share.

Sales from continuing operations for the fourth quarter were $35.5 million, up from $26.3 million in the fourth quarter of 1997.

Income from continuing operations for the fourth quarter was $3.8 million or 34 cents per share, compared with a loss from continuing operations of $17.8 million or $1.60 per share for the fourth quarter of 1997.

The loss from discontinued operations for fiscal 1998 was $773,000 or 7 cents per share.

For fiscal 1997, the loss from discontinued operations was just over $127 million or $11.40 per share.

Whittaker develops fluid control and fire safety systems for aerospace and industrial applications.