Wespercorp, a manufacturer of computer peripherals that has been battered by long-running financial difficulties, Tuesday said its losses lessened during both the fourth quarter and entire fiscal year ended June 30.
During fiscal 1985, the Tustin-based company posted a net loss of $2.9 million, down from $11.4 million the prior year. Sales for the year totaled $20.1 million, compared with $17.4 million in 1984.
Losses for the fourth quarter were $446,000, compared with a net loss of $5.2 million in 1984. Sales for the quarter were $4.8 million, compared with $6.3 million a year earlier.
Dan Whelan, Wespercorp's chief financial officer, said the decreased losses in 1985 were due in part to cuts in overhead and spending, including the laying-off of about 40 of the company's 160 employees.