ST. LOUIS-- LaBarge today fiscal 2010 second-quarter net sales rose 1% from last year to $69 million. Revenues were up 9.3% sequentially, the electronics manufacturing services provider said.

For the period ended Dec. 27, net income was $2.84 million, up from $249,000 a year ago and down from $3.1 million last quarter.

Sales included $15.7 million contributed by the former Pensar operation, which was acquired in December 2008.

Gross margin was 19.9%, up 450 basis points from a year ago and 50 basis points sequentially. The Pensar operation generated a gross margin of 11.6% in the quarter.

Cash from operating activities was $6.41 million, up from $6 million a year earlier. The firm reduced its debt by $4.1 million during the period.

Defense shipments made up 43% of net sales, down from 49% in the second quarter last year. Industrial shipments were 21%, up 3 points; natural resources was flat at 20%; medical was up 4 points to 10%, due largely to the former Pensar operation.

“During the quarter, bookings of new business grew to the highest level in nine quarters, increasing 54% from the comparable period a year earlier and 16% from the current-year first quarter, driven by increased orders from multiple market sectors,” said president Craig LaBarge.

Backlog as of Dec. 27 were up 5% from the September quarter to $180.5 million.

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