Odetics Reports Narrower Loss

Odetics Inc., an Anaheim-based maker of traffic video sensors and electronic security and automation systems, reported a narrower fiscal fourth-quarter net loss of $1.3 million, or 11 cents a share. A year earlier, Odetics lost $7.8 million, or 74 cents a share. Sales fell 31% to $13.5 million for the quarter ended March 31.

For the year, the company posted a net loss of $26.6 million, or $2.36 a share, compared with last year’s loss of $32.5 million, or $3.26 a share. Annual revenue fell 22% to $59.5 million.

James S. Granelli