Terminal Data Predicts Losses for Quarter, Year
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David Krar Hutton, Terminal Data Corp. president and chief executive officer, forecast that the firm would report a loss both for the third quarter, which ended Friday, and for the fiscal year, which will end Sept. 30.
The Moorpark-based company said it had recently shut down a plant in Menlo Park and cut its work force. The firm attributed its performance to a slowdown in orders for check processing microfilmers. Terminal Data said it continued to invest heavily in products that convert documents into images that can be stored electronically.
Terminal Data lost $940,000 on sales of $6.3 million in the quarter that ended March 31.
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