Lower Revenues Result in Loss at Golden West Homes

Golden West Homes of Santa Ana said it lost $8.2 million in the fiscal year ended May 25 because of declining sales and write-offs of doubtful accounts, plant closings and losses from joint ventures.

The figure compared to losses of $691,000 for fiscal 1984, while sales remained flat at $71.7 million.

Fourth-quarter results showed a loss of $942,000 compared to a loss of $199,000 for the same period a year earlier. Sales for the quarter declined 16% to $16.8 million from $20 million.

Lawrence E. Wessel, vice president and chief financial officer, said in a prepared statement that manufacturing operations showed a small profit during the fourth quarter, but the company experienced a loss due to retail sales center losses and additional costs related to the closing of its Arizona manufacturing facility and retail sales centers.

Bomed Medical Posts Second-Quarter Profit

Bomed Medical Manufacturing Ltd. reported a profit of $141,000 for the fiscal second quarter ended May 31, in contrast with a $441,000 loss posted for the same period last year. Revenues for the Irvine company rose to $590,130 from $8,400 a year earlier.

For the fiscal half, the 4-year-old company posted a profit of $1,680, rebounding from a loss of $727,625 for the same period a year ago. Mid-year revenues rose to $756,220 from $93,300. A spokeswoman attributed Bomed’s positive showing in part to increased sales of its cardiac monitors. Bomed develops and markets microprocessor-based equipment using noninvasive techniques for monitoring cardiac and circulatory system performance.