Research Engineers Posts 4th-Quarter Loss

Research Engineers Inc., a Yorba Linda maker of engineering software, said it lost $171,000 in its fiscal 1999 fourth quarter, ended March 31. The loss, equal to 3 cents a share, compared to a profit of $115,000, or 2 cents a share, in the final period the prior year. Revenue of $3.3 million for the three months was up slightly from $2.87 million in the previous fourth quarter.

The company said that the termination of a European distributorship resulted in a $100,000 pretax loss in the fiscal 1999 final period. The company lost $520,000, or 9 cents a share, for the full year, compared to a profit of $101,000, or 2 cents per share, in its fiscal 1998.

Revenue for the year was $10.7 million, down almost 16% from $12.7 million a year earlier.

The company said its losses generally stemmed from costs incurred in shedding some assets, starting up a new unit and absorbing several other acquisitions. Research Engineers said last year that it was realigning its operations to focus on the information technology services.

The company’s stock, traded in the Nasdaq market, dropped 38 cents Tuesday to close at $9.63 a share.