Tustin Firm Shelly Reports Loss

Shelly Associates Inc.: The Tustin electronic products manufacturer reported a net loss of $141,584 for the fiscal year ended June 30, compared with a year-earlier loss of $13,692. Sales for both fiscal 1990 and 1989 totaled $4.4 million. Chairman Daniel C. Montano, said the company’s expenses were higher in fiscal 1990 because it moved its facilities, had a greater marketing effort and increased inventory reserve.