Citing one-time expenses, including start-up costs for a joint-venture subsidiary formed last year, DWI Corp. Monday reported increased net losses for the fiscal year ended June 28 on a slight improvement in revenues.
The Irvine-based industrial design and engineering service company, reported a net loss of $673,000 for the year, more than double the $293,000, the company lost in 1984. Revenues for the year were $3.6 million, compared with revenues of $3.4 million last year.
Robert Fujioka, DWI's chairman, said the losses stemmed primarily from interest expense totaling $349,014 and $213,000 in start-up costs for its Inotek subsidiary.
Fujioka, who said the company's sales backlogs total about $1.5 million, predicted that fiscal 1986 would be a "pretty good year," with continued losses through the first quarter and profits thereafter.