Pinnacle Posts a Loss

Pinnacle Micro Inc., the Irvine maker of data storage products, reported a net loss of $1.2 million, or 8 cents a share, for the second quarter, compared with a net loss of $5 million, or 39 cents a share, for the 1997 second quarter. Sales fell to $1.9 million from $11.3 million. The company cited low sales and significantly lower average prices for its products. The company is attempting to work out an acceptable reorganization plan to pay off creditors, but reported Thursday that three creditors are seeking to force it into liquidation. For the first half, Pinnacle posted a net loss of $2.1 million, or 15 cents a share, compared with a net loss of $9.1 million, or 77 cents a share, for the first six months last year. Sales dropped to $5.9 million from $25.4 million.