Wavetek Reports $238,000 Net Loss for Quarter

Citing increased expenses from reorganizing its sales and marketing efforts, Wavetek Corp., San Diego, reported a net loss of $238,000 for the second quarter ended March 30. Net income in last year’s second quarter was $919,999.

Sales for the latest quarter reached $19.3 million, down 11%.

For the six months, Wavetek’s net income was only $3,000 on sales of $39.2 million, compared to net income of $1.1 million on sales of $38.3 million last year.

Wavetek officials said “significant effort and expense” were incurred as part of its attempt to centralize sales and marketing. The company makes electronic test and measurement equipment.

Earlier this month, John M. Thornton stepped down as president and chief executive because, he said, he wanted to spend more time with his other business interests. He remains with the company as chairman.

Thornton had previously told shareholders that 1985 “won’t be a banner year” because efforts will be directed toward rebuilding the company and reversing last year’s depressed earnings.