Wespercorp, a Santa Ana computer products maker, reported a loss of $382,000 for fiscal 1988, contrasted with a loss of $1.2 million during the previous fiscal year. Sales declined 56% to $3.9 million for the year ended June 30 from $8.8 million last year. The company said the decline in sales reflects lower revenue from government business following the substantial completion of a contract with the Federal Aviation Administration in fiscal year 1987. In addition, shipment of a printer controller product ceased in the United States as a result of a settlement of litigation with Wang Laboratories. The net loss was reduced by cost-cutting measures adopted in recent years, completion of an unprofitable government contract, and restructuring of its bank debt, the company said. George E. Dashiell, chief executive and president, said he was encouraged by the company’s progress, but he cautioned that Wespercorp’s “viability may be affected because it is still without a new source of working capital to cover unforeseen expenses. The company’s ability to generate growth on its new products may also be affected by this lack of working capital.” For the fourth quarter, the company lost $249,000, contrasted with a profit of $18,000 for the comparable period last year. Sales totaled $706,000, 66% lower than the $2.1 million posted last year.