Maxwell Laboratories reported that second-quarter net income...

Maxwell Laboratories reported that second-quarter net income fell to $505,000 for the second quarter ended Jan. 31, down from $661,000 the previous second quarter. Revenue fell to $13.7 million, down from $14.9 million a year earlier.

Net income fell to $1.3 million for the six-month period ended Jan. 31, down from $1.5 million during the like quarter a year ago. Revenue fell to $29.3 million, down from $31.1 million a year ago.

Maxwell linked the drop in profit and revenue to “protests by unsuccessful bidders (that) delayed the start of several large programs.” Maxwell’s backlog on Jan. 31 reached an all-time high of $109 million.