Terminal Data, a Moorpark producer of equipment that transfers documents into images that can be stored on microfilm and disks, said its fiscal fourth-quarter earnings plunged 97% from a year earlier, to $7,000 from $232,000.
The company's revenue in the quarter that ended Sept. 30 fell 12%, to $5.9 million from $6.7 million.
Terminal Data blamed the earnings drop on declining sales of its older products, which are being replaced by equipment based on a newer electronic-imaging technology.
For its full fiscal year, Terminal Data lost $2.3 million, compared with a $1.7-million loss the previous year. Its annual revenue fell 18%, to $22.2 million from $27.3 million.