Cerplex Posts 4th-Quarter Loss of $15.5 Million
TUSTIN — The Cerplex Group Inc. said Wednesday that it is in violation of some of its debt covenants after posting a loss in the fourth quarter.
The company, which provides electronics and telecommunications repair services, said that it is negotiating with creditors to amend the agreements.
The company posted a fourth-quarter loss of $15.5 million, or $1.18 a share, compared with a year-earlier net loss of $2.6 million, or 18 cents a share. Sales rose 28%, to $42.5 million from $33.2 million.
For the year, Cerplex said, it lost $39.4 million, or $3.01 a share, including an estimated loss of $15.4 million from the liquidation of discontinued operations. For 1994, the company reported net income of $684,000, or 5 cents a share. Sales increased 54%, to $144.3 million from $94 million.
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