PerfectData’s Annual Loss Is $4.5 Million
PerfectData, a Chatsworth-based maker of computer maintenance products, reported a loss of $266,000, or 8 cents a share, in the fourth quarter ended March 31. That brings its loss for the fiscal year to $4.5 million, or $1.37 a share.
In the fourth quarter last year, PerfectData lost $364,000, or 11 cents a share. During the last fiscal year, it posted a deficit of $1.0 million, or 31 cents a share.
The company’s sales were down 26% for the fourth quarter, to $1.1 million, and were off 8.4% for the year, to $5.5 million.
PerfectData reported that its yearlong loss widened mainly because of its withdrawal from a joint venture with Polaroid in selling floppy disks, platters on which computer memory is stored. The company also blamed the soft computer-industry market.
The company reported that it will be eligible for about $2.6 million in tax-loss carryforwards, which allow companies to reduce their taxes by deducting previous losses from taxable income.