Advertisement

Archive Corp.: After laying off 600 workers...

Share

Archive Corp.: After laying off 600 workers in the past 16 months, Archive Corp. reported it had regained profitability in its most recent quarter.

Archive, a maker of products that back up data stored on computers, reported earnings of $813,000, equal to 6 cents per share, compared with earnings of $816,000, or 6 cents per share, a year earlier.

Revenues for the quarter ended Dec. 27 were $85.4 million, down slightly from the $86.1 million reported for the first fiscal quarter of 1991. Chairman D. Howard Lewis attributed the improved earnings to cost-cutting. After several rounds of layoffs, Archive employs about 2,650 people, compared to a high of 3,250 in October, 1990.

Advertisement

Lewis said the sales outlook for the current quarter is steady, but he said the company will continue to watch its costs until it sees improvement in the computer industry and in the economy.

Advertisement