CPE Engineers Inc.

CPE Engineers Inc. said Friday it lost $342,000 for its second quarter, which ended Dec. 31, compared to a year-ago profit of $20,000. The company, formerly called VTN Corp., also restated its first quarter earnings to show a loss of $758,000, compared to a $25,996 profit for the year-ago period.

The company’s outside auditors ruled against a plan to restate its fiscal 1984 results. Al Rattan, president and the new majority owner of CPE Engineers, had wanted the restatement to shift $250,000 in losses from the just-ended quarter; that would have given the company a loss of less than $100,000 for its first reporting period under Rattan’s management.