Despite 25% Sales Decline, CalComp Losses Narrow

Anaheim-based CalComp Technology Inc., a manufacturer of computer graphics peripherals and supplies, narrowed its net loss for the third quarter, while sales declined 25%.

The struggling company also said it anticipates that it will need additional financing in the fourth quarter to avoid liquidity problems.

The company posted a loss of $15.8 million, or 34 cents a share, for the three months, compared with $23.7 million, or 51 cents a share, for the same quarter last year. Sales declined to $35.5 million from $47.3 million.

CalComp, which decided last month to divest its Input Technologies division, Cutter division, and Service and Support businesses, said it will take a onetime noncash charge about $60 million in the fourth quarter. The company said it expects to record other noncash charges of $30 million to $35 million in the fourth quarter related to the impairment of certain assets, including goodwill.