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Datapower Posts Loss of $573,000 in Quarter

November 20, 1986

Datapower Inc., a Santa Ana manufacturer of power supplies for computers, reported a $573,000 loss in its fiscal 1987 second quarter ended Sept. 30, more than twice the $231,000 loss reported for last year's second quarter. Quarterly revenues rose 7% to $1.5 million from $1.4 million.

In the first six months, the company lost $1.2 million, more than twice the $551,000 it lost in its fiscal six-month period last year. Revenues in the period fell 12% to $2.9 million from $3.3 million in the same period last year.

Included in the six-month revenue figure last year were cancellation fees of $679,000 for which there is no related cost of sales.

The company's 1986 annual report to shareholders said it was in violation of certain covenants in its bank-borrowing contracts. Three months ago, Datapower received a notice of default from its banker. The company has entered into a number of agreements under which its banker will not take any action to collect loans in default. The latest such agreement expires on Nov. 30.

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