Irvine’s Prolong Reports a Loss of $4.5 Million for 4th Quarter

Prolong International Corp., Irvine marketer and distributor of lubricants and automotive-appearance products, posted a fourth-quarter net loss of $4.5 million, or 16 cents a share, compared with a net loss of $1.8 million, or 7 cents a share, for the fourth quarter of 1998. Sales dropped to $3 million from $6.1 million. For the year, the company lost $6.6 million, or 23 cents a share, contrasted with net income of $419,513, or 2 cents a share, for 1998. Sales declined 1% to $34.5 million.