May 4, 2012 | last updated June 1, 2012 2:21 pm

CT Zygo's tight fist yields higher fiscal 3Q net

Zygo Corp. lifted fiscal third-quarter net income 21 percent despite lower sales as higher margins and overhead control benefitted the Middlefield maker of precision equipment and optics.

For three months ended March 31, Zygo netted $5.4 million, or 29 cents a fully diluted share, up from $4.5 million, or 24 cents a share, netted the same period last year.

Third-quarter revenues fell to $38.5 million vs. $40.2 million a year ago.

President and CEO Chris Koliopoulos said Zygo's order backlog hit $76.8 million at March 31, up from $60.5 million a year ago.

Finance chief John P. Jordan said Zygo's targeted 50.5 percent gross margin in the quarter, up from 46.9 percent a year earlier, was due to better loading of manufacturing capacity and ongoing process improvements.

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