Salt Lake-based cleanroom company Daw Technologies Inc. said Friday it had a net loss of $3.3 million, or 88 cents per share, for the quarter ended June 30. That compares with a net loss of $1.1 million, or 31 cents per share, for the second quarter of 2001.
Revenues totaled $7 million, down from $12.2 million in the prior-year period.
For the first six months of 2002, the company had a net loss of $4.9 million, or $1.33 per share, on revenues of $13.6 million. That compares with a net loss of $1.5 million, or 43 cents per share, on revenues of $27 million for the first half of 2001.
The company said it had three one-time items that hurt second-quarter earnings: a provision for $1.7 million as a result of recently received income and value added tax assessments relating to historical foreign operations; an increase in its inventory reserve by $543,000 to reflect slow-moving and potentially obsolete inventory; and about $300,000 of unusual accounting and legal fees incurred in the second quarter as a result of the company's recent restatement of financial results.
The company's stock closed Friday at 17 cents, unchanged during the day. Since April 25, the company's stock price has ranged from 10 cents to $1.