Telefile Computer Corp. Reports $1.1-Million Loss
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Telefile Computer Corp., an Irvine-based maker of computer systems and products for Xerox and Sigma-series computers, said it lost $1.1 million in its fiscal 1987 second fiscal quarter ended March 31 and is uncertain about its ability to survive.
The company reported a $59,791 profit in the same period last year.
Revenues for the quarter of $1.3 million were down 44% from $2.3 million a year earlier.
For the first six months, the company has lost $1.47 million, compared with last years’ $151,167 loss. Revenues totaled $3.6 million, down 3% from $3.7 million.
The company said that $493,671 of the second quarter loss stems from the bankruptcy petition that was filed by Telefile Computer Products GmbH, its German subsidiary, early last month.
Telefile Computer Corp. officials said in a prepared statement that its domestic subsidiary, Telefile Computer Products Inc., called a meeting of its largest unsecured general creditors and asked for “a 90-day moratorium on past due indebtedness” of the subsidiary. Officials said Telefile’s future is “entirely dependent” on its turning a profit by the end of the fiscal year, which falls on Sept. 30.
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