Wiz Reports $3-Million Loss; Stock Delisted

Wiz Technology Inc., a San Juan Capistrano-based computer software company, reported a $3.13-million annual loss Monday and said its stock is being delisted by the American Stock Exchange.

Paul Knopick, a Wiz spokesman, said the company was delisted for failing to meet the exchange’s earnings requirements and for failing to file its annual financial report in a timely manner. The latter was caused by the departure of the company’s auditor, Knopick said.

The latest loss amounted to 37 cents per share for the fiscal year that ended July 31. A year earlier, Wiz, a distributor of discount software, posted a loss of $562,711, or 7 cents per share.

Sales for fiscal 1996 were $7.06 million, almost double the sales of $3.68 million a year earlier. The company took a $3-million asset write-off in the fourth quarter, including charges related to prepaid advertising and software development.

The company said that its stockholders’ equity as of July 31 was $6.3 million, and that total liabilities were $3.2 million. Wiz Technology’s stock hit a 52-week low of $2.50 last week, after trading as high as $9.375 per share last May.