Everest & Jennings Reports $5.75-Million Loss

Everest & Jennings International Ltd., a Camarillo maker of wheelchairs and other medical equipment, reported a fourth-quarter loss of $5.75 million, compared to a year-earlier loss of $32.6 million.

The losses in both quarters stemmed from major restructuring charges as Everest & Jennings attempts to return to profitability. In the latest quarter ended Dec. 31, the loss came on a 26% drop in the company’s sales, to $34.1 million from $45.9 million a year earlier.

Excluding the restructuring costs, the “fourth-quarter operating results are encouraging,” President Barre Rorabaugh said in a statement. He said the company cut the annual operating costs of its Camarillo plant by $17 million, which should benefit the current year’s results.

For all of 1990, Everest & Jennings lost $52.3 million on sales of $132.8 million. In the previous year, the company lost $42.1 million on sales of $183.9 million.