Tax Benefits, Real Estate Sales Boost Terminal Data Earnings
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Thanks to tax benefits and real estate sales, Terminal Data earned $935,000 in its first quarter ended Dec. 31, compared to a year-ago loss of $281,000.
Operating results continued to be unimpressive. Terminal Data lost $137,000 on pretax operations compared to a loss of $194,000 a year ago.
Sales in the most recent quarter fell 24%, to $6.1 million. Per share, the company had net income of 21 cents against a year-ago loss of six cents.
The company said the first quarter results included an after-tax gain of $1.8 million on the sale of its Woodland Hills facility, and an after-tax loss of $770,000 on the planned sale of its Simi Valley facility. Results in the quarter were also affected by a $402,000 one-time tax benefit.
Based in Simi Valley, Terminal Data makes cameras, optical equipment for high-speed microfilmers, sorters and machines that photograph bank checks.
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