Bristol’s 3rd-Quarter Loss Shrinks

Bristol Retail Solutions Inc., a Newport Beach provider of retail automation products and services, reported a net loss for the third quarter of $75,843, or 1 cent a share, compared with a net loss of $346,574, or 6 cents a share, for last year’s third quarter. Revenue grew 4% to $9.8 million.

For the first nine months, Bristol lost $594,000, or 9 cents a share, compared with a loss of $1.3 million, or 22 cents a share, for the same period last year. Revenue grew 17% to $27.5 million.

The company said Monday that it has signed a definitive agreement for the sale of its Ohio division to a private company for about $1.6 million of net proceeds in cash. The sale eliminated “certain overhead costs” that are expected to improve earnings, Lawrence Cohen, Bristol’s president, said in a news release.

“We have a clear vision of where the point-of-sale industry is headed, and we want to focus our resources and energies to be on the leading edge of the industry,” he said. “The sale of the Ohio division will provide the additional working capital to finance strategies that will shape our business.”