Terminal Data Widens Loss to $1.4 Million

Terminal Data posted a widened loss of $1.4 million, or 30 cents a share, in its third quarter ended June 30 as the company continued to suffer from the cost of maintaining its new, unused Simi Valley plant.

The Woodland Hills company, which makes systems that convert documents to images that can be stored on microfilm, magnetic disks and optical disks, posted a loss of $944,000, or 21 cents a share, in the same period the year before. Terminal Data’s sales increased 6% in the third quarter, to $7.3 million.

Terminal Data attributed 64% of its most recent quarterly loss to the cost of maintaining its unused, $27-million office and manufacturing plant and to reduced income tax benefits available to the company. In January, Terminal Data scrapped plans to relocate to its new plant, which it decided to sell or lease instead.

Over the first nine months of its fiscal year, Terminal Data lost $2.8 million, or 63 cents a share, versus a loss of $1.4 million, or 32 cents a share, a year earlier. Sales fell 17%, to $22.8 million.