Wespercorp Reports Loss of $98,000 for 2nd Quarter

Wespercorp, a Tustin computer parts maker that has been battling losses and sagging sales for the last three years, gained ground in its second quarter, posting a $98,000 loss compared with a year-earlier loss of $1.9 million. Sales for the period ended Dec. 31 were $3.3 million, down 29% from the $4.69 million recorded the year before.

Chief executive George Dashiell blamed the sales drop on continued softness in the computer industry.

For the first six months of the year, Wespercorp’s losses totaled $253,000 compared with $1.6 million the year before. Revenues were $7.3 million, down 29% from $10.3 million.

Despite the continued losses, Dashiell said the company is heartened by its progress. “We’re close to break-even, and that’s encouraging,” Dashiell said of the $98,000 loss. “If sales go up, things would brighten considerably.” Dashiell declined to speculate on the company’s performance for the remainder of the year.

Wespercorp, once one of the nation’s fastest-growing companies, hit the skids in 1983 after taking on large debts to diversify its product line. It was doubly punished when its new acquisitions performed badly and its traditional computer parts markets began to slow. In late 1984, Wespercorp was on the brink of bankruptcy after its lenders demanded repayment of loans. But the company secured a last-minute bail-out plan that included a new $2-million line of credit and hiring Dashiell to run the company.