Micro General Posts Larger Loss

Micro General Corp., a Santa Ana manufacturer of automated equipment for shipping and mailing operations, reported a net loss for the second quarter of $535,723, or 27 cents a share, compared with a net loss of $327,422, or 17 cents a share, for last year’s second quarter. Quarterly revenue dropped 60% to $264,274 from $664,996.

For the first six months, the company posted a net loss of $224,704, or 12 cents a share, contrasted with net income of $292,511, or 15 cents a share, for the same period last year. Revenue dropped 39% to $1.7 million in the first half from $2.8 million.

The company attributed this year’s loss to lower sales as well as an increase in research and development expenses to produce postage meters designed to comply with proposed U.S. Postal Service regulations.