Iwerks Entertainment Inc. in Burbank, as expected, reported large losses for its fiscal fourth quarter and year ended June 30.
Iwerks was one of last year's hottest public stock offerings as high hopes were pinned on the company's specialized movie theaters, simulation rides and virtual-reality attractions. But Iwerks, founded by two former Walt Disney Co. executives, has had trouble finding locations for its urban entertainment centers and other products. Last month, it announced that it expected to post a loss for fiscal 1994.
