Terminal Data Reports Loss of $1.2 Million

Terminal Data reported that its loss widened to $1.2 million, or 27 cents a share, in the second quarter ended March 31. It lost $519,000, or 12 cents a share, in the same quarter a year earlier. Revenue fell 21%, to $7.4 million, from the period a year earlier.

The Woodland Hills firm, which makes imaging equipment used by banks and other companies with credit card operations, cited several reasons for the bigger loss. They include the costs of maintaining an unoccupied Simi Valley plant that is up for sale, increased inventory reserves and reduced benefits from tax-loss carryforwards, which allow a company to deduct previous losses from taxable income.

For the six months ended March 31, Terminal Data lost $1.5 million, or 33 cents a share, versus a loss of $488,000, or 11 cents a share, in the same period the year before. Revenue fell 25%, to $15.4 million, during the six months.