Printronix Posts Gain After Heavy Losses

Printronix Inc., an Irvine computer printer manufacturer, posted net earnings of $1.4 million for the third quarter of fiscal 1987, ended Dec. 26, up from a $10.8-million loss for the same period a year ago. The income includes a $1.5-million tax credit, the company said.

Third-quarter revenue fell slightly to $32.9 million from $33 million a year earlier.

For the first nine months, Printronix’s earnings totaled $1.8 million, including a first-quarter pretax gain of $4.2 million, compared with a $13.3-million loss a year ago. Nine-month revenue totaled $95 million, down 4.3% from $99.3 million.

For the third quarter of fiscal 1986, the company wrote off $6.6 million after a Printronix subsidiary suffered heavy revenue losses during a computer industry slump. The cost of Printronix’s consolidations, layoffs, and a shift to overseas manufacturing of some of its products also contributed to the company’s heavy losses for that quarter.