ORANGE COUNTY EARNINGS

Millennium Electronics Inc.: The Laguna Beach provider of computers and upgrade components said it lost $513,494, or 6 cents a share, for the first quarter, contrasted with net income of $324,681, or 6 cents a share, for the 1997 first quarter. Sales were up 12% to $14.1 million from $12.6 million.

The company said a high number of sub-$1,000 computers assembled by another manufacturer were returned during the quarter. The company said its second-quarter results also might suffer because of the returns.

Millennium said it is no longer using third-party manufacturers, and has moved assembly and testing operations to its facility in Irvine.