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EARNINGS

Printronix Inc. Reports Net Loss of $4.9 Million

May 24, 1987

Printronix Inc., the Irvine-based maker of printers, reported a fiscal 1987 net loss of $4.9 million, less than half the $11.7 million loss posted for the previous year.

The 1987 figures were affected by a $4.1 million gain from federal income tax credits, the sale of a real estate option and by a fourth-quarter charge of $5.1 million for write downs of inventory and equipment.

Revenue for the 12 months ended March 27 were $123.6 million, down 6% from $131.9 million a year earlier.

For the fourth quarter, the company reported a loss of $6.7 million, compared with net income of $12.6 million for the fiscal 1986 fourth quarter. Revenue for the three months of $28.6 million was down 12% from $32.5 million a year earlier.

Printronix' fiscal 1986 figures were affected by one-time expenses of $10.7 million, involving a provision of $4.3 million for realignment of operations and a plant closing and the $6.4 million write-off of goodwill.

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