Certron Corp.: The Anaheim-based manufacturer of audio...
Certron Corp.: The Anaheim-based manufacturer of audio recording tapes, videocassettes and floppy disks reported a net loss of $47,000 for the first quarter of fiscal 1991.
In last year’s first quarter, the company also lost $47,000, but that included extraordinary gains of $91,000 from a tax benefit and $131,000 from life insurance proceeds.
Sales for the quarter ended Jan. 31 totaled $4.1 million, a 25% decline from the $5.5 million posted a year earlier.
The company attributed the declines to a decrease in videocassette sales caused by a general softening in the economy.