Voice Powered’s Loss Narrows in Second Quarter
Voice Powered Technology International Inc., a Sherman Oaks-based maker of voice-recognition consumer electronic products, reported a narrower loss for its second quarter that ended June 30.
The company reported a loss of $141,000, compared with a loss of $5.25 million for the same period a year earlier. Revenue for the latest quarter was $2.64 million, down 45% from $4.81 million in 1993.
For the first six months of 1994, Voice Powered posted a loss of $36,000 on revenue of $5.76 million, compared with a year-earlier loss of $7.65 million on revenue of $9.26 million.
The company said the latest quarterly results reflect a transition from being a direct marketer of its products last year to a strategy that includes sales to retailers, distributors and catalogues. The new strategy is expected to cut marketing and other operating costs, the company said.
Voice Powered also announced that it recently relocated its corporate headquarters from Canoga Park to Sherman Oaks.