Morehouse Industries Pares Its Annual Loss
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Morehouse Industries in Fullerton reported a net loss of $280,000 for its fiscal year ended Aug. 31, contrasted with a loss of $380,000 in the previous year.
The chemical equipment company said the improved annual figure includes provision for inventory obsolescence and the write-down of prototype processing equipment.
Net sales of $3.9 million were up 2.6% from $3.8 million last year.
For the fiscal fourth quarter, the company posted a net loss of $198,000, contrasted with a loss of $266,800 for the same period last year. Sales totaled $1.3 million, up 44% from $898,000 reported last year.
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