82.1 F
San Fernando
Thursday, Mar 28, 2024

Early Small Cap Earnings Reports Dim in Valley

If today’s earnings reports are any indication, the fourth quarter is not shaping up to be a good one for small cap companies in the San Fernando Valley. Only one of the five companies reporting today, Image Entertainment Inc., showed increased earnings for the quarter. One company, PerfectData Corp. narrowed its loss, and three companies saw net income drop in the period. Advanced Photonix Inc., a Camarillo-based supplier light detection and amplification products for original equipment manufacturers, earned $35,000 or $0.00 per diluted share on revenues of $3.9 million for the company’s third fiscal quarter ended Dec. 26. That compares with earnings of $256,000 or $0.02 per share on revenues of $2.9 million for the same period in 2003. Digital Theater Systems Inc. (DTS), an Agoura Hills-based digital entertainment company, reported net income of $192,000 or $0.01 per diluted share for its fourth quarter ended Dec. 31, compared to earnings of $3.3 million or $0.20 per diluted share in the same period a year ago. Revenues at DTS rose to $16.6 million in the current quarter, from $14.9 million in the year ago period. Electronic Clearing House Inc. reported net income of $52,000 or $0.01 per share for its first fiscal quarter ended Dec. 31, compared to $$589,000 or $0.09 per share for the same period a year ago. Revenues at the Camarillo-based provider of electronic payment and transaction processing services increased to $12.8 million for the current period, versus $11.5 million in the year ago period. Image, a Chatsworth-based producer of home entertainment programming, reported earnings of $2 million or $0.10 per diluted share for its fiscal third quarter ended Dec. 31 on revenues of $34.4 million. That compared with a net loss of $8.3 million or $0.45 per share for the same period a year ago. Finally, PerfectData, which has had no revenues since June 1, 2004 when Spray Products Corp. assumed its customers, reported a net loss of $92,000 or $0.02 per share, compared with a loss of $211,000 or $0.03 per share for the same period a year ago. Perfect Data is seeking a merger with Sona Mobile Inc., which provides wireless solutions.

Featured Articles

Related Articles