Printronix Shows Healthy Earnings After Make-Over

Posting a healthy rebound from a year ago, Printronix Inc. said Wednesday that it earned $3.6 million for its fiscal year ended March 30, contrasted with a year-earlier loss of $4.4 million.

The Irvine computer printer manufacturer said its profits improved despite a 7% decline in sales, which fell to $124.9 million from $134.7 million a year ago.

The company credited its turnaround to lower operating expenses resulting from a recent restructuring in which the company closed a plant in the Netherlands and shifted production to Irvine and Singapore. During the fourth quarter, operating expenses fell to $8.4 million, from $11.7 million during the same period a year ago.

Fourth-quarter earnings were $1.9 million contrasted with a loss of $3.1 million a year earlier. Sales rose 5.7% to $32.9 million.

Printronix said in a statement that strong fourth-quarter sales and its large backlog of orders were not indicative of a general upturn in the computer industry.