CMS Reports $1.2 Million Quarterly Loss

CMS Enhancements Inc., still reeling from layoff costs and intense competition in the computer industry, reported a loss of $1.2 million for its latest fiscal quarter. CMS, which makes and distributes computer systems and storage devices, said part of the loss was because of lower sales as a result of cutbacks in the company’s work force. About 30% of the company’s 500 employees were laid off in March. The loss for the company’s third fiscal quarter, which ended March 31, was the same as the amount lost in the comparable period last year. For the latest quarter, the company’s loss per share was 41 cents, the same as a year earlier. Revenue fell 12% to $28.7 million from $32.1 million. For the nine-month period, the company lost $7.5 million, or $2.59 a share, contrasted with a loss of $1.1 million, or 40 cents a share, a year earlier. Revenue fell 10% to $87.8 million from $98.1 million.