OTHER NEWS - Dec. 25, 1992

Profits Were Really Losses, Comptronix Says: Comptronix Corp. of Guntersville, Ala., said it expects to post a $1.5-million loss this year after an audit revealed that the company posted losses instead of a profit for the last four years. The anticipated loss contrasts with a previously reported $5.3-million profit for the first nine months of 1992. The electronics manufacturer’s restatement of earnings, based on an audit by the accounting firm Arthur Andersen & Co., wipes out $10 million in profit Comptronix had reported in the previous years, the Wall Street Journal reported. Shareholder equity has been cut by 50% from the $45.6 million reported in the company’s most recent disclosure, the newspaper said. Sixteen federal lawsuits have been filed by shareholders alleging Comptronix illegally misled them.