Bishop Narrows Loss in 1991 Fiscal Year

Bishop Inc., a Westlake Village supplier of engineering-design products and systems, said it lost $875,000 in the 1991 fiscal year compared to a net loss of $1.02 million in 1990.

But Bishop’s revenues grew 13% to $11.9 million from $10.5 million in 1990, thanks to a 68% surge in sales from its Advanced Systems Division, which buys and programs computers and resells them to engineering firms. That growth more than offset shrinking sales of Bishop’s traditional printed-circuit design products, the company said.

The 1991 results were affected by $195,000 in costs, including back taxes and a tax penalty assessed after state auditors found that Bishop had failed to charge its customers sales taxes on some products from 1988 to mid-1991, said Gary Rubin, chief financial officer. The costs also included expenses associated with the closure of two warehouses and the sale of some obsolete inventory, Rubin said.