Dense-Pac Microsystems Reports $4.4-Million Loss

Dense-Pac Microsystems Inc., a Garden Grove computer equipment manufacturer that filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code earlier this year, said it posted a $4.4-million loss for its fiscal 1987, contrasted with a $383,122 profit a year earlier. Total sales for the 12 months ended Feb. 28 fell 42% to $3 million from $5.1 million.

For the fourth quarter, Dense-Pac reported a net loss of $2 million, contrasted with a year earlier profit of $254,137. Sales for the quarter plummeted 80% to $327,538 from $1.6 million.

The company attributed the year’s losses in large part to inventory write downs and to the costs of closing down its recently opened manufacturing facility in Puerto Rico.