DWI Corp. Reports a Net Loss of $166,000

DWI Corp. reported a net loss of $166,000 for its 1987 fiscal year ended June 30, contrasted with a net loss of $903,000 for its fiscal 1986. Revenues for the Mission Viejo-based industrial design and engineering firm dropped 19% to $2.1 million from $2.6 million.

Despite the year’s loss, Arthur W. Ellsworth, president and chief executive officer, said the company’s results improved during the second half of the fiscal year, with revenue for that period up 21.4% from the previous six months.

Separate fourth-quarter results were not available.

The company said interest expenses and the performance of the Inocan Technologies Ltd., of which DWI owns 42%, adversely affected results. The loss from recurring operations was reduced to $73,852 in fiscal 1987 from $550,232 in fiscal 1986.