American Magnetics Posts $195,000 Loss for Quarter

American Magnetics Corp., a high-tech firm based in Sherman Oaks, reported a net loss of $195,000 for the fiscal second quarter that ended July 1, compared to a $59,000 loss a year earlier. Revenue declined 7% to $4 million from $4.3 million.

American Magnetics makes optical products such as equipment used to scan magnetic strips on credit and bank cards. The company did not explain the reasons for the loss.

In the six months that ended July 1, American Magnetics lost $566,000, contrasted with $107,000 in net income in the first half of 1988. Revenue totaled $7.9 million, an 11% gain from $7.1 million.