Advertisement
YOU ARE HERE: LAT HomeCollections

ORANGE COUNTY EARNINGS

CalComp Losses Deepen in 3rd Quarter

November 06, 1996

ANAHEIM — CalComp Technology posted a sharp increase in its net losses for the third quarter while sales rose slightly.

The Anaheim supplier of computer graphics products reported a net loss of $10.7 million, or 24 cents a share, for the third quarter, compared with a year-earlier net loss of $2.9 million, or 7 cents a share. Sales rose to $65.6 million from $65.3 million.

Third-quarter results were depressed by competitive pressures, delays in the introduction of new products and expenses related to a corporate reorganization. The company was created from the July 23 acquisition of Summagraphics Corp. by CalComp Inc., a wholly owned subsidiary of Lockheed Martin Corp.

For the nine-month period, the company reported a net loss of $32.7 million, or 78 cents a share, compared with a net loss of $11.8 million, or 29 cents a share, for the first three quarters of 1995. Sales declined 18% to $168.4 million from $206.6 million.

Advertisement
Los Angeles Times Articles
|
|
|