Wahlco Environmental Systems Inc.: Blaming restructuring and...

Wahlco Environmental Systems Inc.: Blaming restructuring and product redesign costs, the Santa Ana-based company reported a loss of $12.8 million in 1992.

The firm, which provides pollution control equipment to electric power plants and industry, said its loss was equal to 72 cents per share. A year earlier, the company reported a profit of $11.6 million, or 66 cents per share. The company announced last month that it would post a loss about equal to its 1991 profit.

Revenue fell 8% to $81.9 million, from $88.8 million a year earlier.

The company also was hurt by a 63% decline in orders for its gas-flow control products, which direct exhaust gases through a boiler during power production. The company announced plans in September to combine 10 subsidiaries that made the gas-flow products into one unit.

In the fourth quarter, the company posted a loss of $4.8 million, or 27 cents per share, contrasted with a profit of $3.7 million, or 21 cents per share, in the same period a year earlier. Revenue fell 37% to $17.4 million, from $27.5 million.