Distributed Logic Attributes Loss to Computer Slump

Distributed Logic Corp. reported a loss of $312,825 for the quarter ended July 31, compared with net income of $432,170 for the same period a year earlier. Revenues for the third quarter dropped 43% to $2.9 million from $5.1 million in the third quarter of 1984.

The Anaheim manufacturer of computer disk and tape controllers attributed the loss to the recession in the computer industry, which resulted in many of Distributed Logic’s customers postponing delivery of their orders. The company said it also had non-recurring expenses of $173,000 in severance pay because of recent layoffs and $241,000 from the settlement of a lawsuit. The suit stemmed from Distributed Logic’s acquisition of Accord Computer Corp. last year.

Net income for the nine months was down 79% to $215,699 from $1 million for the same period a year earlier. Revenues declined 19% to $10.5 million from $12.9 million.