Wavetek Net Dips Despite Revenue Gain
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Wavetek reported that net income fell 7% to $691,000 and revenue rose 5% to $18.9 million for the first quarter ended Dec. 27.
The company was hurt by “the continuing sluggish growth of the general economy and the impact of tax reform,” according to President John Battin. “These factors (depressed) the company’s expected growth rate in bookings and sales.”
Wavetek will emphasize “cost control and new product introductions” during the remainder of the year, Battin said.
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