New Image Cites Sales Drop in 3rd-Quarter Loss
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New Image Industries Inc. in Woodland Hills posted a $1.53-million loss for its fiscal third quarter, compared with a year-earlier profit of $435,000.
The company makes computerized machines that help beauty parlors, landscapers, dentists and others show their clients “before” and “after” images of their services. New Image’s latest loss came on a 55% plunge in its revenue, to $1.82 million in the quarter that ended March 31 from $4.05 million a year earlier.
New Image attributed the declines in part to significant reductions in sales of its beauty parlor systems.
For the first nine months of its fiscal year, New Image lost $2.68 million compared with a $1.08-million profit a year earlier. Its nine-month revenue fell 18% to $7.83 million from $9.50 million.
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