ORANGE COUNTY EARNINGS : Applied Data Posts Another Quarter Loss
Continued softness in the personal computer market has left Applied Data Communications with lower earnings for its second quarter and the first half of its fiscal 1986, the Tustin company reported Wednesday.
Net income for the quarter was $119,000, down 41% from $201,000 a year earlier. Revenues to $2.76 million, down 18% from nearly $3.4 million for fiscal 1985’s second quarter.
For the record:
12:00 a.m. Oct. 26, 1985 FOR THE RECORD
Los Angeles Times Saturday October 26, 1985 Orange County Edition Business Part 4 Page 2 Column 4 Financial Desk 1 inches; 24 words Type of Material: Correction
Applied Data Communications reported a profit for its fiscal 1986 second quarter. In a headline in Friday’s edition, The Times incorrectly said the company posted a loss.
Net income for the first six months fell 62%, to $201,000 from 538,000 a year ago. Revenues were $5.9 million, a decline of 14% compared with $6.85 million in revenues for the six-month period last year.
The company has been reporting reduced earnings for more than a year, but previously announced reductions in the company’s operating costs, including a 10% reduction in its work force, have enabled Applied Data to earn a profit, Pat Kane, the company’s president, said.
Kane also revealed that Robert T. Wall has resigned from the board of directors to pursue other business interests and that a company committee is searching for a replacement.
ADC designs, manufactures and markets equipment for duplicating diskettes and equipment for testing various disk drives.
