VICTORIA – Despite a 5% drop in sales, Vecima increased profits by 12% in its 2009 fiscal year end, the manufacturer and cable operator reported Monday Revenue decreased by 5% to $114.2 million in fiscal 2009, compared to $120.6 million in fiscal 2008. Net income increased by 12% to $13.2 million for the year ended June 30, 2009, compared to $11.9 million in fiscal 2008, while gross margin was 46% compared to 42% last year. Operating profit increased $2.1 million to $19.9 million, compared to $17.7 million in fiscal 2008.Chairman and CEO Dr. Surinder Kumar said that despite some customers delaying...
