California Amplifier Lists $5.7-Million Loss for Year

California Amplifier said it lost $5.7 million in the fiscal year ended Feb. 28, largely because of a $2.9-million writedown stemming from the shutdown of its manufacturing operations.

The loss, which amounted to $1.65 a share, came on sales of $14.6 million, off 23% from the year before. California Amplifier, a Camarillo-based maker of components for satellite dish antenna systems, lost $634,000, or 18 cents a share, the previous year.

In the fourth quarter, California Amplifier lost $4.6 million. During the same quarter the year before, it lost $1.4 million. Sales for the quarter were up 3%, to $3.4 million.

The company said its year-end financial statement received a qualified opinion from its outside auditors over the stated value of its assets. Auditors qualify a financial statement when they are unable to examine, or have doubts about, material in the report.

Donald W. Fuller, California Amplifier’s chairman and chief executive, said the auditors are uncertain what price the company would get for some of its assets if it closed.

Last month, California Amplifier reached an agreement with its creditors to restructure about $1.9 million in unsecured debt. The company had said previously that it might file for protection from creditors under Chapter 11 of the U.S. Bankruptcy Code if it did not reach such an agreement.