Digital Sound Stock Plummets: The Santa Barbara...
From Times Staff and Wire Reports
Digital Sound Stock Plummets: The Santa Barbara maker of voice-mail equipment for businesses lost 46% of its stock market value after disclosing that it probably will record a second-quarter loss. The stock plunged $4.25 to $5 on volume of 490,900 shares. The company said the expected loss will stem from slower than anticipated orders from some major customers. Digital has been wracked with problems since its initial public stock offering on Feb. 26, at $8.50 a share. Digital said its second-quarter order problems were compounded by grass fires last week in Santa Barbara because many employees were unable to get to work.
