PerfectData Changes Focus, Mounts Profit Turnaround

PerfectData Corp., the Simi Valley maker of office equipment cleaning products, said its earnings for the fiscal third quarter that ended Dec. 31 were $9,000, in contrast to a loss of $141,000 in the same quarter a year earlier. Revenues in the latest quarter were $1.52 million, down 7% from $1.63 million the previous year.

For the first nine months, earnings were $306,000, compared to a loss of $297,000 in the same period a year earlier. Revenue for the nine months was $5.48 million, up 10% from $4.96 million.

The company said the third-quarter and nine-month results reflect a shift in the firm’s business focus from modems, cables and other telecommunications equipment to cleaning products.

The company also said its board of directors has approved the repurchase of another 500,000 shares of common stock in an effort to boost shareholder value. It’s the second time in a year that the directors have moved to buy back stock. They authorized repurchase of the first 500,000 shares in May.