HCC Industries Expects 3rd-Quarter Loss
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HCC Industries said it expects to report a net loss of $400,000 to $600,000 for its third quarter ended Dec. 28, as well as its first quarterly operating loss since opening in 1971.
An Encino-based company specializing in electronic components, HCC showed net income of $428,000, or 24 cents a share, in the year-ago quarter.
President Andrew Goldfarb said the poor showing is mostly due to operating losses in several areas, including HCC’s computer electronics unit and its hermetic sealing subsidiary.
But $150,000 to $250,000 of the loss stems from non-operating deficits--the cost of discontinuing operations at HCC’s Israeli electronics affiliate, as well as from building reserves for the anticipated expense of a suit involving its former machine tool subsidiary.
For detailed data and results of other companies, please see tables, Page 14.
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