PerfectData Cuts Losses Despite Declining Sales

PerfectData Corp. said it narrowed its loss to $42,000 in the first quarter that ended June 30 from $150,000 in the year-earlier period. Sales fell 22% in the quarter to $750,000.

The Simi Valley company, which sells computer care products, attributed the sales decline to a restructuring of its European sales force.

Separately, PerfectData Chairman Richard Drysdale and Westwood Management, a Beverly Hills investment firm he heads, disclosed in a Securities and Exchange Commission report that they have bought an 8.4% stake in the company through a private sale. The filing also suggests that they may propose changes in the company’s business, including the possible sale of the business or some assets.

In an interview, Drysdale said the stock was bought from some shareholders divesting some of their portfolios. He said that he and Westwood are not planning to force a sale or restructuring of the company. He said such a clause was included in the filing as a legal formality.