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Comarco Lists 3rd Quarter Earnings of $47,000

December 05, 1987

Comarco, an Anaheim-based computer company, said it earned $47,000 in the third quarter, contrasted with earnings a year earlier of $593,000.

Revenues for the quarter ended Nov. 1 were $18.9 million, down 12% from the $21.4 million posted a year ago.

For the first nine months, the company reported a net loss of $9.7 million. This contrasted with net income of $1.7 million in the prior year. Revenues from continuing operations for the first nine months of the fiscal year were $58 million, contrasted with $58.3 million a year ago.

Walter V. Sterling, chairman, chief executive officer and president, said the company has made significant progress toward stabilizing operations and returning to a profitable state. Bank debt was reduced by more than $2 million since August and annual operating expenses have been cut by more than $4 million, Sterling said.

During the second quarter, Comarco took a $10-million loss, attributing it to write-downs involving recent acquisitions and new divisions, and to discontinued operations.

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