Cushman Electronics Reports $597,000 Loss

Cushman Electronics Inc. said disappointing sales of its new generation of products resulted in a loss of $597,000 for its fiscal 1985 third quarter, compared with net income of $1 million the year before. The third-quarter 1984 profit included a non-operating gain of $2,374,000 from a real estate lease exchange transaction.

The Newport Beach manufacturer of radio test equipment also reported a sales decline of 38% in the third quarter, with revenue dropping to $1.7 million from $2.8 million.

For the first nine months of its fiscal 1985, Cushman has reported losses of $1.3 million, compared with earnings of $710,000--including the real estate gain--in the first nine months of 1984. Net sales for the first nine months were $6.3 million, down 20% from $7.8 million.

Cushman officials also blamed the poor results on reduced sales of discontinued products and on weakening foreign business due to the strength of the U.S. dollar.