EECO Posts ’88 Loss of $13.2 Million

EECO Inc., Santa Ana, reported a loss for 1988 of $13.2 million, contrasted with net income of $1.5 million for 1987.

Discontinued operations accounted for most of the loss. Sales rose 25% to $60.9 million from $48.5 million.

For the fourth quarter, the company lost $13.4 million, contrasted with net income of $717,000 a year earlier. Fourth-quarter results include a $5.2-million reduction in the carrying value of computer keyboard inventory due to shrinkage, obsolescence and excess quantities. Also included in the fourth quarter is a $5.7-million gain from the sale of real estate.

Sales for the 3-month period declined 6% to $13.9 million from $14.8 million. EECO makes computer and keyboard products and electromechanical switch products.