HCC Industries Loss Increases to $528,000
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HCC Industries’ quarterly loss widened to $528,000, or 30 cents a share, in the second quarter ended Sept. 26 from $362,000, or 20 cents a share, in the year-earlier quarter because the company had fewer tax benefits.
HCC’s sales in the quarter fell 17% to $6.8 million, largely because of the sale of a subsidiary that makes electronic measuring equipment.
HCC, an Encino maker of hermetic seals for electronic equipment, lost $628,000 in the second quarter from operations, but cut the loss by $100,000 because of tax benefits.
In the year-earlier quarter, the company lost $926,000 from operations, but had reduced the loss by $470,000 in tax benefits.
The company said its losses from operations narrowed largely because of improved manufacturing.
For the six months, HCC lost $493,000, or 28 cents a share, compared to $546,000, or 31 cents a share, a year earlier. Sales dropped 11% to $15.9 million.
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