Dollar’s Decline Against Yen Hurts Pinnacle Micro Stock

Shares of Pinnacle Micro Inc., an Irvine maker of optical data storage systems, fell 16% Wednesday after the company said its first-quarter revenue of $20.2 million won’t offset losses it incurred because of the decline of the dollar against the Japanese yen. Pinnacle stock closed at $11.25, down $2.125 for the day. The company said it will post break-even first-quarter earnings. Pinnacle, which was supposed to release its first-quarter results today, secured an extension from the Securities and Exchange Commission. Financial results will likely be filed on May 22, the company said.