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Davstar Industries Ltd.: The Newport Beach plastics...

Davstar Industries Ltd.: The Newport Beach plastics and medical products company reported a loss for its fiscal year ended June 30 of $5.9 million, or 52 cents a share. That compared to a loss of $2.8 million, or 34 cents a share, for the previous year. The company said the increased loss was mainly because of increases in product design and testing expenses, reduced orders for non-medical plastic injection-molded products sold by the company’s Gates Plastics subsidiary and a related $563,000 charge. Revenue declined 16% to $3.8 million from $4.5 million. Davstar did not release fourth-quarter results.


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