Earnings, Sales Drop at Chatsworth’s Powertec

Powertec, citing the electronics industry’s slump, said its earnings fell 1% to $2.5 million, or 91 cents a share, in the fiscal year ended Oct. 31.

For the fourth quarter, the Chatsworth-based company said, its net income fell 13% to $655,000, or 24 cents a share. Powertec’s sales fell 3% to $22 million in the fiscal year and 13% to $5.5 million in the fourth quarter.

The company makes power-switching equipment used mostly in computers.