Terminal Data's Profit Drops 80% for 1st Quarter

Terminal Data said its fiscal first-quarter profit fell 80% from a year earlier, when the Simi Valley-based company's income was boosted by tax benefits and real estate sales.

The company's operating performance showed modest improvement, however. Terminal Data, a maker of electronic document-storage systems, said its pre-tax profit from operations was $150,000 in the quarter ended Dec. 31, contrasted with a year-earlier operating loss of $137,000.

Terminal Data's net income skidded to $187,000, or 4 cents a share, from $935,000, or 21 cents a share, a year ago, when the results included a $402,000 tax credit and $533,000 in net proceeds from real estate sales. The company's first-quarter sales rose 10%, to $6.7 million, from $6.1 million.

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