DWI Corp. Lists Loss of $903,000 for Its Fiscal 1986

DWI Corp., a product design firm that has remained profitless since it gained its independence in 1980, said Friday that its red ink has increased with a $903,000 net loss for its fiscal 1986, compared to a net loss of $673,000 for the previous fiscal year.

But DWI Chairman Robert Fujioka said the company, which spun out of Beatrice Foods Corp. six years ago, is in the final phases of developing three new products which could result in profits as early as next year. “As soon as these things hit the market they will generate royalty revenues or manufacturing revenues,” he said.

In addition to losses from product development, DWI blamed its drop in annual revenue to $2.6 million in fiscal 1986 from $3.6 million in fiscal 1985 on a “drastic downturn” throughout the design service industry.

Lists Contracts

But Fujioka reported that the company recently has “entered into design service contracts with the Coleman group of companies, Skyway, AST and others” and has on-going contracts with clients that include General Motors, McDonnell Douglas, the U.S. government, Fujitsu and Samsung.

He said the revenue from those contracts, combined with proceeds from a recent public offering by a DWI subsidiary, will provide funds to keep the company going while it develops its own proprietary products.

Fujioka said DWI, which this week is moving from Irvine to less expensive quarters in Mission Viejo, has developed a 3-D imaging process to assist surgeons during arthroscopic knee operations.

In addition, he said, DWI has developed an innovative carbonated beverage dispenser that a major soft drink manufacturer is negotiating to field test.

Fujioka said DWI also has invented a low-sodium home water purification system that it wants to produce and market on its own.