Advantage Life Reports a Loss of $342,556 for Second Quarter

Advantage Life Products Inc., the Laguna Hills maker of smoking cessation products, posted a loss for its fiscal 1991 second quarter of $342,556, including one-time expenses of $261,851 related to merchandising costs and a write-down of packing material and obsolete inventory. The company reported net income of $306,000 for the comparable period last year. Revenue for the quarter ended Oct. 31 declined 30%, to $1.9 million from $2.7 million.

The company’s reported a net loss of $309,516 for the first half, contrasted with net income of $566,144 in the first six months of its fiscal 1990. Revenue for the six-month period dropped 23% to $4 million from $5.2 million.

The company said sales suffered from efforts by retailers to minimize inventories because of competitive pressures and in anticipation of a recession.