PerfectData Announces Loss for Fiscal Year

PerfectData Corp. in Simi Valley reported a net loss of $314,000 or 10 cents per share for its fiscal year ended March 31.

The loss comes on a 12% increase in revenue and compares with a net loss of $402,000 or 13 cents per share in the previous year.

For the fourth quarter ended March 31, the company reported a 21% gain in sales to $505,000 from $418,000, with a net loss of $213,000 or 7 cents per share compared with a loss of $152,000 or 5 cents per share a year earlier.

As a result of the reported change of control that began March 31, resulting in four new directors being added to a reconstituted board of five members, the company is seeking acquisitions that may or may not be related to its current business. The board also is looking at other ways to turn around the company’s operations.

PerfectData designs computer, office care and maintenance products and accessories.