TouchStone Software Corp.: The Huntington Beach software company’s losses widened last year as revenue declined. TouchStone lost $4.5 million, or 60 cents a share, in 1996, compared with a net loss of $1.6 million, or 26 cents a share, the previous year. Revenue fell 19% to $7.7 million from $9.4 million in 1995, which included reserves of $3.1 million for product returns and price discounts.
For the fourth quarter, the company’s losses narrowed to $228,000, or 3 cents a share, from $3 million, or 40 cents a share, a year earlier. The company had revenue of $2.8 million, compared with negative revenue of $342,000 a year earlier because of $2 million in reserves for product returns and the discounts.