Xscribe Corp., The troubled manufacturer of computer...

Xscribe Corp., The troubled manufacturer of computer aided transcription (CAT) devices, reported a $5.8-million loss for its fourth quarter ended March 31. The loss was attributed largely to the company’s decision to set aside $5.5 million in reserves to cover asset write-downs, anticipated losses and the tentative settlement of a shareholder lawsuit.

The loss, which came on total revenue of $6.9 million, reflects a $1.6-million provision for losses connected to the closure of the company’s service centers and the transfer of product service and maintenance to NCR. The company also wrote off $1.2 million that it had invested in software development and $1.4 million worth of inventory, receivables and repurchase accruals.

The company also set aside $1.25 million to cover payment for the tentative settlement of a class-action shareholders lawsuit filed against the company. Xscribe shares closed unchanged at $1.06 a share in over-the-counter trading Monday. Xscribe sold its shares at its initial public stock offering in August, 1987 for $8 a share.

This year’s fourth-quarter loss compares with a $805,000 loss on revenue of $7.5 million for the same three months last year. For the fiscal year ended March 31, Xscribe’s loss totaled $10.9 million on revenue of $28.1 million, contrasted with a profit of $485,000 on revenue of $32.1 million the previous fiscal year.