Cal Amplifier Cites Restructuring in Loss

California Amplifier Inc. in Camarillo reported a third-quarter net loss, which officials attributed to a decision to establish a $1.8-million reserve for restructuring.

The loss, after accounting for the restructuring charge, was $894,000, or 8 cents per share, for the quarter ended Nov. 29. This compares with net income of $127,000, or 1 cent per share, for the third quarter ended Nov. 30, 1996. Without the restructuring charge, the company would have reported income before taxes of $403,000 for the most recent third quarter.

Third-quarter sales increased 14% to $13.38 million, compared with sales of $11.7 million for the third quarter of 1996.

“We had a slight increase in sales and earnings in the quarter before the restructuring charge, as compared to the preceding second quarter,” said Fred Sturm, chief executive officer. “However, continued delays in the roll-out of digital systems domestically, some new product introduction delays, and price competition in international markets adversely impacted the third-quarter sales growth.”

California Amplifier’s board of directors approved a restructuring plan focused on the company’s product line. The $1.8-million reserve was established to cover the costs of restructuring and the potential elimination of certain products that are offered overseas.

California Amplifier designs and manufactures amplifiers, antennas and other products used primarily in conjunction with the delivery of multichannel television.