Traditional Industries to Post 4th-Quarter Loss

Traditional Industries Inc., an Agoura Hills firm that markets camera and film processing packages, said it expects to report a loss for the fiscal fourth quarter. Meanwhile, the company said its financial report for the fiscal year that ended June 30 has been delayed, and it expects to report its results within 45 days. The delay was partly caused by the settlement Traditional recently reached with the Federal Trade Commission, which alleged that the company made false claims in advertising its photographic packages.

The FTC said in August that Traditional could lose up to $50 million in sales as the cost of complying with the agreement. Traditional said the impact would actually be far less than that, although the company also said it was seeking new financing alternatives.

In a separate matter, a group led by the New York investment concern Allen Holding Inc., cut its stake in Traditional to 54,378 common shares of stock, or 1.5% of the company’s total, according to a filing with the Securities and Exchange Commission. The group, which includes Allen’s executive vice president Harold M. Wit, previously held the equivalent of a 7.6% stake in Traditional.