PerfectData Reports Lower Sales, Earnings

Both sales and earnings were off in the latest quarter at PerfectData Corp., but the Simi Valley company says it’s financially strong and expects to introduce a new line of products later this year.

PerfectData, which makes computer and office maintenance products and accessories, reports sales of $1.5 million in its first fiscal quarter, ended June 30. That compares with $1.7 million in the year-earlier period.

Earnings from continuing operations fell to just $5,000, in contrast with $63,000 a year ago. The company also earned $52,000 from discontinued operations in the year-earlier period.

Joseph Mazin, president and chief executive, said PerfectData has no outstanding bank debt and an unused $1-million line of credit.

Mazin said the firm is working on new products to be introduced later this fiscal year by a newly formed division, PerfectBrands. The products will be related to the company’s existing cleaning-product line, he added.

In a separate announcement, Mazin said PerfectData has acquired a majority interest in Starnet Universe in Beverly Hills, which provides services for companies doing business through the Internet.

He said the two companies have formed a joint venture to become an Internet provider and on-line service for manufacturers’ sales representatives and others. He did not disclose terms of the deals with Starnet.