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EARNINGS

EECO Reports Net Loss of $573,000 in First Quarter

May 14, 1987|MARIA L. LA GANGA

EECO Inc., a Santa Ana-based maker of electronics products, hotel computer systems and video equipment, reported a net loss of $573,000 for its fiscal 1987 first quarter ended March 29--the company's first loss in two years. In the prior year's first quarter, EECO reported net income of $510,000. Sales for the quarter increased 13% to $15.4 million from $13.6 million a year earlier.

Company officials attributed the loss in part to sales that slumped approximately 40% below projections. In addition, the hotel industry has been impacted by sections of the new federal income tax law dealing with business expenses and real estate investments, with resulting delays in new hotel construction.

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