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VALLEY EARNINGS

Digitext Reports Loss of $2.1 Million in 3rd Quarter

February 23, 1988

Digitext, still struggling to correct flaws in its main product, reported a $2.1 million loss and zero revenue for its fiscal third quarter ended Dec. 31.

The 5-year-old company is developing a machine that rapidly enters text into a computer. But Digitext, based in Thousand Oaks, announced last November that defects in the machine's keyboard had delayed mass production.

It also said Wang Laboratories, which signed up to be Digitext's exclusive marketing agent, had postponed taking delivery of the machines until the problems were fixed. Digitext said last week that testing of a redesigned machine would last another two to four months.

In its fiscal third quarter a year earlier, Digitext lost $1.5 million on revenue of $158,376. For the first nine months of its current fiscal year, the company lost $3.5 million compared with a $3.1 million loss a year earlier. Nine-month revenue rose to $878,069 from $373,116.

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