Printronix Stock Falls 16% on Poor Earnings

Printronix stock fell 16% to $7 in over-the-counter trading on Monday apparently in reaction a lackluster earnings report issued on Friday.

Printronix, the Irvine-based maker of printers for minicomputers and microcomputers, reported earnings of $110,000 for the quarter ended Dec. 28, down from earnings of $1.0 million a year earlier. Reflecting the recession, sales for the quarter were $26.8 million, down from $30.8 million a year earlier.

Robert Kleist, president of the company, said he knew of no event other than the earnings report that could have affected the company’s stock price.