Tandon Loses $1.99 Million in Quarter, Blames Dollar
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Tandon Corp., a Moorpark maker of personal computers, reported a loss of $1.99 million for the second quarter ended June 30, compared to a $6-million profit a year earlier. Revenue in the latest quarter increased 20% to $97.7 million from $81.1 million.
The company blamed the loss on the recent strength of the U.S. dollar, which has made overseas sales more difficult. About 86% of Tandon’s sales are in Europe. Tandon said it is taking steps to make its European operations more self-sufficient, which should lessen its vulnerability to exchange-rate fluctuations.
For the six months ended in June, Tandon lost $11.9 million, compared to $13.2 million in net income a year earlier. Revenue increased 18% to $190.4 million from $161.5 million.
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