North Hollywood-based Audiotronics reported sales of $2.5...
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North Hollywood-based Audiotronics reported sales of $2.5 million for its fourth quarter ended June 30, down 51% from the same period a year ago. The company also reported a loss for the quarter of $2 million, or $1.66 a share, compared with net income of $135,000, or 11 cents, for last year’s corresponding period.
For the year, sales were $14 million, down 33% from the company’s previous fiscal year. Audiotronics reported a loss for the year of $2.9 million, or $2.43 per share, against net income for the previous year of $556,000, or 46 cents.
Audiotronics makes monitors for closed-circuit television and video display units for computers. The company blamed its performance on cancellations from customers who have been hurt by the slowdown in the computer industry.
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