IMPCO Technologies Inc. (Cerritos, CA) reported results for its fiscal fourth quarter ended April 30, 2002. For the fourth quarter of fiscal 2002, IMPCO reported a net loss of $5.9 million, or $0.47 per share, on revenues of $23.9 million, compared to a net loss of $6.8 million, or $0.66 per share, for the fourth quarter of fiscal year 2001 on revenues of $27.2 million.
The fiscal year 2002 fourth quarter included charges for the spin-off of Quantum Technologies Worldwide Inc., totaling approximately $0.5 million. Consolidated fourth-quarter revenues versus the third quarter increased by 38 percent, or $6.5 million. During the fourth quarter, revenues of IMPCO's established core business declined $2.9 million, or 15 percent, versus the same period last year. However, the core business fourth-quarter revenues versus the third quarter increased by 21 percent, or $2.9 million.
For the 12-month period ended April 30, 2002, IMPCO reported a consolidated net loss of $27.2 million, or $2.45 per share, on revenues of $91.1 million, compared to a net loss of $13.1 million, or $1.32 per share, for the 12-month period ended April 30, 2001, on revenues of $103.9 million. For fiscal 2002, Quantum reported a net loss of $43.4 million, or pro-forma $2.46 per share, on revenues of $23.4 million, compared to a net loss of $30.2 million, or pro-forma $2.12 per share, on revenues of $23.4 million in the prior fiscal year.
