Wespercorp Reports Loss for 1st Quarter

Wespercorp, a financially troubled computer peripherals manufacturer, Thursday reported continued losses on lower revenues during the fiscal first quarter of 1986, which ended September 30.

However, George Dashiell, Wespercorp’s president, expressed some satisfaction that the quarter-to-quarter losses are being reduced and “are going in the right direction.”

The Tustin-based company’s first-quarter loss totaled $159,000, compared with restated net earnings of $281,000 during the same period last year. Because the first-quarter 1984 earnings stemmed from an $822,000 extraordinary gain, Wespercorp actually posted an operating loss of $541,000 during the 1984 quarter.

Revenues for the first quarter were $3.92 million, down 29.8% from the restated revenues of $5.58 million during the like period last year.

Dashiell blamed the loss on weak sales of computer equipment for utility companies, the dropping of its personal computer products business and continued slack demand for Wespercorp’s peripheral controller products.

Although cost-cutting measures, including layoffs during the previous year, have helped Wespercorp to trim the losses, Dashiell declined to predict when the company may again become profitable. “I don’t want to forecast, because I don’t want to mislead people,” he said.