Urethane Technologies Reports Loss

Urethane Technologies Inc., the Santa Ana developer of polyurethane systems and production technology, reported a net loss of $5.3 million, or 71 cents a share, for last year, including a $3-million charge from discontinued operations.

That compares with a net loss of $3.8 million, or 57 cents a share, for 1993. Revenue increased to $13.4 million from $2.3 million. The fourth-quarter loss totaled $3.1 million, or 40 cents a share, compared with a net loss of $1.5 million, or 22 cents a share, for the corresponding 1993 period. Revenue rose to $4.7 million from $375,297.

The charge for discontinued operations reflects the anticipated sale of Urethane Technologies’ molding division, which produces polyurethane office furniture components. A preliminary letter of intent for the sale of that division has been signed, the company said.