Gradco Systems Says It Will Report Loss

High costs involved in moving its manufacturing operations to South Korea will result in an undisclosed operating loss for Gradco Systems Inc. for the fiscal year ended April 7, company officials projected Friday.

In a statement, Keith B. Stewart, chairman of the Santa Ana paper feeder manufacturer, said that while he expects record revenues for fiscal 1985, a fiscal 1984 operating loss is anticipated. In fiscal 1984, the company reported net income of $2.7 million.

Stewart said that the company’s three South Korean manufacturers are now operational and that product shipments would begin “within a matter of weeks.”

Seahawk Oil Reports First-Quarter Loss

Seahawk Oil International Inc., an independent oil and gas exploration company in Newport Beach, on Friday reported a $49,595 loss for the calendar first quarter compared with a $29,366 loss in the quarter a year earlier.

The company said its oil and gas sales were lower than expected during the quarter because of reduced oil and gas prices and production slowdowns caused by a combination of foul weather in Texas and Oklahoma and delays involved with renegotiating gas contracts.

Seahawk’s revenues for the quarter rose nonetheless to $676,582, including oil and gas sales of $555,546, from revenues of $611,472, with oil and gas sales of $529,962, for the same quarter the previous year.