Ameriquest Losses Mount; Chief Resigns

Ameriquest Technologies Inc. said Wednesday that Mark Mulford is resigning as president and chief operating officer for personal reasons.

The computer products distributor also announced that its losses for the second fiscal quarter grew and revenue fell as the company discontinued unprofitable businesses and juggled several acquisitions.

Ameriquest said Mulford will be a consultant until a replacement is found. The company also said Robert Beckett Sr. resigned as senior vice president in charge of the Advanced Systems Group. Beckett’s duties have been assumed by Alex Kramer, vice president of operations.

The company lost $5.7 million, or 20 cents a share, in the second quarter ended March 31, compared to a loss of $3.3 million, or 16 cents a share, in the same period a year ago. Revenue fell 18% to $108.5 million from $132.7 million.

For the first six months, the company lost $14 million, or 52 cents a share, including a nonrecurring charge of $3.7 million from subleasing property. Ameriquest lost $8.3 million, or 41 cents a share, in the same period a year ago. Revenue slipped to $210 million from $256.2 million.