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EARNINGS

Biflyx Loses $66,000 in 2nd Quarter of Fiscal '86

February 23, 1986|ROBERT HANLEY

Biflyx, a Santa Ana high-technology firm, said last week that it lost $66,000 in the second quarter of its fiscal 1986, contrasted with net earnings of $21,000 during the like period last year. Revenues from continuing operations during the quarter totaled $31,000, contrasted with $1,000 the year before.

For the six months ended Dec. 31, Biflyx had a net loss of $153,000, contrasted with a net loss of $24,000 during the previous year's first half. Revenues from continuing operations during the six months were $31,000, contrasted with $1,000 a year earlier.

Results for the second quarter and six months include an extraordinary gain of $36,000 from stock sales. Stock sales accounted for an extraordinary gain of $100,000 during the first half of fiscal 1985.

The company said its losses stemmed from the continued costs of bringing a new electronic photography system to market. Company President Jay Gegenberg said Biflyx received orders for its electronic photo device totaling "a couple of hundred thousand dollars" following a recent trade show, but he declined to say when the company might again be profitable.

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