Terminal Data Reports Loss in Quarter of $2.2 Million

Terminal Data reported a $2.2-million loss on revenue of $6.7 million for its fiscal third quarter that ended June 30, compared to a loss of $856,000 on revenue of $5.9 million a year earlier.

The Moorpark company, which makes equipment used to convert documents to images that can be stored on computer disks and microfilm, attributed the wider losses to the expenses incurred from relocation of its headquarters, severance agreements that were issued in connection with a management shake-up and a write-down in the value of its inventory.

For the nine months that ended June 30, the company lost $1.9 million on revenue of $20.6 million, compared to a loss of $17,000 on revenue of $18.8 million the year before.