TouchStone Losses Rise for the Year
TouchStone Software Corp.: The Huntington Beach company said it lost $260,230, or 3 cents a share, for the fourth quarter, contrasted with a profit of $22,922 for the same period last year. Revenue dropped 18% to $1.4 million from $1.7 million.
For the year, the company lost $3.1 million, or 39 cents a share, which included a restructuring charge of $1.1 million. That compares with a loss of $2.1 million, or 26 cents a share, for the prior year. Revenue declined 39% to $4.8 million from $7.9 million.
For the record:
12:00 a.m. March 13, 1999 For the Record
Los Angeles Times Saturday March 13, 1999 Orange County Edition Business Part C Page 2 Financial Desk 1 inches; 23 words Type of Material: Correction
TouchStone Deal--TouchStone Software Corp. acquired Unicore Software for $4.56 million in cash and stock. An incorrect price was reported Thursday in The Times.
The company, which makes PC diagnostic tools, also said it completed its previously announced acquisition of Unicore Software Inc. in Massachusetts for $5.56 million in cash and stock.
Unicore founder and president Pierre A. Narath previously was named chief executive of Touchstone. The company also plans to move its executive offices to the East Coast.
