Drewry Photocolor Posts Narrowed Loss
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Drewry Photocolor, a Burbank-based photo-finishing company, reported a narrowed loss despite a 17% decline in sales for its third quarter ended Jan. 25.
The company lost $138,285, or 23 cents a share, on sales of $7.2 million. During the same quarter a year earlier, the company lost $188,076, or 32 cents a share.
William W. Drewry III, company’s president, said late fall is traditionally a poor period for the photo-finishing business, but he attributed the company’s relatively small loss to cost-cutting.
For the nine months ended Jan. 25, Drewry reported its profit dropped 61%, to $96,077, or 17 cents a share, from last year’s corresponding period. Sales fell 24%, to $24.5 million.
Drewry, which processes film mostly for drugstore and supermarket customers, has cited price-cutting and a loss of business to competitors for its weakened performance.
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