In the wake of sizable loss and a dip in sales for its fiscal 1987 third quarter, Dynatem Inc., an Irvine microcomputer company that went public in July, has elected a new president and chief executive officer and three new directors.
Dynatem posted a $102,995 loss for the period ended Feb. 28, contrasted with a $4,245 profit a year earlier. Sales for the third quarter were $338,049, down 17% from $409,118 for the previous third quarter.
Fran Daniels, a Dynatem spokeswoman, said the company was affected by the computer industry slump.
For the first nine months of its fiscal 1987, Dynatem posted a net loss of $341,095, contrasted with a net profit of $89,439 a year earlier. Sales for the nine months were $1.1 million, down 35% from $1.7 million.
Daniels said the resignation of Arthur L. Cupples, former president and chief officer, and the election of the three new board members were not a direct result of the loss.
The newly elected board members were selected because of their expertise in management, acquisitions and marketing, Daniels said.
Gene R. Roney, who has been a Dynatem executive for six years, replaces Cupples, who resigned after “mutually agreeing with the board” to leave the company to pursue other interests, Daniels said.
Roney, who holds about 14% of the company stock, and Eileen DeSwert, a principal shareholder with 41% of the shares, continue to control two of the five board seats. DeSwert is the widow of Dynatem founder C. Youry DeSwert, who died in February. The two principal shareholders elected the three new board members.
The new directors are Harry Cavanaugh, the president of Ditek Inc.; John McNeil, vice president of technology and planning for Rogerson Aircraft Corp., and Richard Mandel, a private investor. Cavanaugh was named chairman.