Cimco Inc

Cimco Inc. said Wednesday that it has abandoned its search for a new president and chief executive, leaving founder Russell T. Gilbert as the company's top officer. Gilbert said he decided to remain on the job partly to ensure management stability in the wake of recent inquiries by outside investors who expressed interest in acquiring all or part of the company.

Cimco Inc., a manufacturer of industrial and medical plastic components, said Wednesday it has received several inquiries about selling the firm or some of its operations and it has hired PaineWebber Inc. to evaluate the feelers. The company would not say how many inquiries it has received or identify any of the inquiring investors. Company officials would only say "more than one" investor had shown interest in buying a controlling interest or a portion of the company.

Cimco Inc., an industrial and medical thermoplastic manufacturer, announced Tuesday that it may have to revise its previously reported financial results for the fiscal year ended April 30. The Costa Mesa company said it is reviewing a customer's balance sheet in the wake of new information about the customer's finances. L. Ronald Trepp, Cimco's chief financial officer, would not identify the customer and declined to elaborate on the reasons for the review.

Cimco Inc., a Costa Mesa plastic components manufacturer, said it lost $1.5 million, or 52 cents a share, for the fiscal year ended April 30. That compares with a net loss of $1.2 million, or 41 cents a share, for the prior year. Sales increased 13% to $83.2 million from $73.9 million. For the fourth quarter, the net loss totaled $289,000, or 10 cents a share, compared with a net loss of $909,000, or 31 cents a share, for the corresponding period a year ago. Sales rose 24% to $23.

Cimco Inc., a Costa Mesa manufacturer of plastic components for commercial, industrial and medical markets reported a loss of $542,000, or 18 cents a share, for its second fiscal quarter ended Oct. 31. That contrasted with a profit of $27,000, or 1 cent a share, for the same period a year earlier. Sales rose 9% to $20.3 million from $18.6 million. For the first half of its fiscal year, the company posted a loss of $1.

Cimco Inc., the Costa Mesa manufacturer of plastic components for commercial, industrial and medical markets, reported a profit of $27,000, or 1 cent a share, for its fiscal 1994 second quarter, down from $279,000, or 10 cents a share, for the year-earlier period. Sales for the quarter ended Oct. 31 declined 3% to $18.6 million from $19.2 million. For the first half of its fiscal 1994, Cimco's profit dropped almost 80% to $134,000, or 5 cents a share, from $649,000, or 22 cents a share.