Pico Products Reports ‘Disappointing’ Quarter

Pico Products Inc., a maker of pay television security devices, said its fiscal fourth-quarter financial results were “disappointing,” although the Lake View Terrace company did not release specific figures.

Pico said that its results for the quarter that ended July 31 were negatively affected by legal costs associated with two lawsuits. One complaint was filed against Pico by its former chairman, it said, while the other was filed by a competing company.

Despite the fourth-quarter loss, Pico managed an annual profit of $66,815, while its revenue rose 21%, to $19.5 million. In fiscal 1991, Pico lost $1.29 million on $16.1 million in revenue.