Protocol Computers Posts Net Loss on Lower Sales
Protocol Computers of Woodland Hills reported growing losses on sharply lower sales for its third quarter ended June 30.
Its net loss of $809,000, or 15 cents per share, was more than eight times larger than its loss of $96,000, or 2 cents per share, in the same quarter last year. Sales were off 29% to $2.7 million.
Company officials said Protocol was hurt by distributors who waited for new Protocol lines, just now being delivered, instead of buying previously available products. They said high research and development costs also cut into profitability.
Protocol manufactures products that allow IBM mainframe computers to communicate with terminals and personal computers made by IBM and other companies.
