Audiotronics Trims Loss in 3rd Quarter
- Share via
Audiotronics, a North Hollywood-based designer of audio-visual equipment, reported a narrowed net loss of $179,000, or 15 cents a share, for its third quarter, ended March 31. During the same quarter last year, the company posted a loss of $878,000, or 74 cents a share.
Charles A. Musson, president and chief executive, said Audiotronics’ loss shrank because of improved results from an unprofitable video monitor business. He said the business, known as the Electronics Systems division until it was sold April 30, was hit hard in fiscal 1985 by inventory obsolescence and order cancellations.
Musson said, however, that the performance of Audiotronics’ continuing audio-visual operations declined in the past quarter because the climbing value of the Japanese yen made purchases from Japanese suppliers more costly.
From continuing operations during the third quarter, the company lost $125,000 on sales of $1,556,000. A year earlier, it lost $120,000 on sales of $1,315,000 from continuing operations.
Audiotronics sells cassette tape players, record players and other audio-visual equipment used in schools and business training programs.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
