Datron Estimates Loss Up to $1.3 Million
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Datron Systems, a satellite communications company, says weak sales and a restructuring charge have resulted in a loss for the fiscal year that ended March 31.
Because of lower-than-expected sales of remote-sensing systems, the company will move its image-processing division in San Jose to its business in Simi Valley.
The restructuring will result in an after-tax charge of $900,000, or 34 cents a share, in the fourth quarter, company officials said. Datron estimated it ended its fiscal year with a loss of $1.1 million to $1.3 million, or about 40 to 50 cents a share.
Before the announcement, the company had been expected to finish the fiscal year with a profit of 90 cents a share, based on the estimate of two analysts surveyed by IBES International Inc.