Revenue Slips at Check Technology
The company suffered a loss of $509,882, or 8 cents a share, compared with earnings of $87,802, or 1 cent a share, a year ago. Check Technology cited currency exchange factors for the loss.
Check Technology expects economic improvement in Latin America and Asia to help it reverse its losses by the end of the year. The firm sold its first Imaggia printing system into Chile in the quarter, and signed a marketing agreement with Oce Printing Systems GMBH that will give Check Technology two new print production systems. As a result of the deal, the company hopes to gain a broader line of products without any major infrastructure or research and development costs.