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EARNINGS

Morehouse Industries Reports $379,600 Loss

October 03, 1986

Morehouse Industries Inc., a Fullerton maker of industrial chemical process equipment, said it lost $379,600 for its fiscal 1986 ended Aug. 31, compared with a year-earlier loss of $106,100. Sales of $3.8 million were down 5.7% from $4 million.

For the fourth quarter, Morehouse posted a net loss of $266,800, compared with a $17,000 loss for the same period in its fiscal 1985. Sales for the quarter of $898,000 were up 1.4% from $885,500.

E.J. Szkaradek, the company's president and chief executive officer, said that "the capital equipment market wasn't as good as we hoped it would be" and that the write-off earlier this year of a welding equipment line contributed to a $391,600 pretax loss for the company.

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