Wiz to Take Write-Off

Wiz Technology Inc. said it expects to take a $3-million restructuring charge in the fourth quarter as the company moves from the software business into sales of so-called intranet computer systems.

The company said the change, which involves a write-off of capitalized costs, will result in a loss for the year of at least $2.5 million, on anticipated revenue of $7 million to $8 million.

Intranets are computer networks that use the software and formats of the Internet, but restrict access to authorized users. Intranets are increasingly being used by companies as a means of disseminating information, such as changes in health-care benefits, to employees.

The San Juan Capistrano-based company also said it has appointed Richard Nance as its new chief financial officer. Nance most recently served as a principal in Calspectre Management Consulting.