HCC Industries Reports $660,000 Loss in Quarter

HCC Industries reported a loss of $660,000 for its third quarter ended Dec. 28, including an operating loss of $234,000 that was the company’s first since it was incorporated in 1971.

The Encino-based company attributed its poor showing, a reversal from a profit of $428,000 the same quarter a year ago, to a $426,000 loss from discontinued operations and operating losses in its computer electronics division and at its newly acquired Hermetite unit. Hermetite is one of four HCC subsidiaries making seals that unite glass and metal.

The loss from discontinued operations involves the company’s divestiture of its Israeli electronics affiliate, and a reserve for expenses stemming from litigation in Texas involving HCC’s defunct machine-tool business.

The third-quarter loss was 37 cents per share, versus a profit of 24 cents a share in the quarter a year ago. Sales for the quarter were up 4% to $10.2 million, mostly because of the addition of Hermetite’s revenue.