Printronix Posts Loss of $11.7 Million for ’86

Despite increased fourth-quarter earnings, Printronix Inc. said Wednesday that it lost $11.7 million during its fiscal 1986, largely the result of write-offs and other charges taken during the third quarter. The 1986 loss compares with net earnings of $7.1 million a year earlier.

Totaling $10 million, the write-offs and charges included good will associated with the acquisition two years ago of another company, as well as expenses stemming from consolidation, layoffs and the transfer of manufacturing capability overseas.

The Irvine-based manufacturer of computer printers said revenues for the year were $131.8 million, down 11% from $148.4 million in 1985.

For the quarter ended March 28, 1986, Printronix had net earnings of $1.5 million, up 67% from $894,000 during 1985. The fourth-quarter earnings include gains from a patent-infringement settlement and tax benefits resulting from earlier losses.

Revenues during the fourth quarter fell 12% to $32.5 million from $36.9 million a year earlier.