Printronix Hit by $1.8-Million Loss in Slump

Printronix Inc., the Irvine computer printer manufacturer, reported a loss of $1.8 million for its fiscal year ended March 29, contrasted with net income of $3.6 million for the previous year. Sales declined 14% to $106.9 million from $124.9 million.

For the fourth quarter, Printronix lost $3.1 million on sales of $22.5 million, contrasted with earnings of $1.9 million on sales of $33 million in the year-earlier quarter.

The company attributed the lower sales to competing technologies, a continuing slump in the mid-range computer market and the recession in the United States and parts of Europe.