PerfectData Corp. said it lost money in its first quarter ended June 30, the company's third consecutive unprofitable quarter.
The net loss for the quarter was $695,000, or 21 cents per share, compared with net income of $2,000 in the same period last year. Sales amounted to $1.3 million, up 9% over a year ago.
PerfectData's results reflect continued softness in the electronics industry, and start-up expenses for a new line of computer software disks the company is making with Polaroid, according to Richard Brounstein, vice president for finance.
PerfectData, which has headquarters in Chatsworth, makes disks and products for the cleaning and maintenance of computer parts.