AST Research Inc.: The Irvine-based desktop computer...
AST Research Inc.: The Irvine-based desktop computer maker reported that profit was down 4% to $112.2 million for fiscal 1989. Sales for the year rose 11% to $456.5 million. For the fourth quarter, the firm reported earnings of $32.4 million, down 20% from a year ago. Sales for the period were $123.5 million, down 9%. The firm said the decline in earnings was due in part to expansion of its product line and distribution system.
For the record:
12:00 a.m. July 28, 1989 FOR THE RECORD
Los Angeles Times Friday July 28, 1989 Home Edition Business Part 4 Page 2 Column 1 Financial Desk 2 inches; 48 words Type of Material: Correction
Irvine-based AST Research Inc. reported a $7.5-million net loss in fiscal 1989, contrasted with a $15-million net profit in fiscal 1988; the company posted a $2.5-million profit in its fourth quarter, compared to a $7.7-million profit in the same period of 1988.
Some figures for these companies were misstated in Thursday’s earnings roundup.
