Archive Corp. Lists Lag in Quarter Earnings

Blaming lagging sales, Archive Corp. of Costa Mesa reported second-quarter profits of $1.2 million, 14% below the $1.4 million in net earnings posted a year earlier. It was the third consecutive period that Archive’s earnings have lagged behind those of the year-earlier quarter.

Revenues for the period ended March 27 were $20.3 million, about 1% below the $20.5 million recorded last year.

For the first six months of the fiscal year, profits were $1.8 million, down 25% from the $2.4 million a year ago. Revenues were $39.3 million, down nearly 5% from the prior year.

D. Howard Lewis, chairman and president of Archive, a maker of computer back-up tape drives, attributed the company’s lower sales pace this year to sluggish demand late last year and early this year for its products by makers of high-powered personal computers.