Temp-Stik Corp. Reports Quarterly Loss of $64,256

Temp-Stik Corp. posted a fiscal 1986 second-quarter loss of $64,256 compared with a year-earlier loss of $102,384. Revenue of $100,920 for the quarter ended June 30 was down 25.8% from $137,949.

For the first six months of its fiscal 1986, the El Toro-based maker of electronic medical instruments reported a loss of $129,358, compared with a loss of $182,894 a year earlier. For the six-month period, Temp-Stik garnered $265,024 in revenue compared with $261,201 for the prior year period.

J.G Hammerslag, Temp-Stik’s president, said the company was able to reduce its losses because of increased sales of its electronic thermometer.

He said Temp-Stik also has completed a $100,000 private placement of stock and unsecured promissory notes. Proceeds are to be used for product development, he said. Also, by recently issuing 33.5 million shares of common stock, the company retired $256,000 in debt, including approximately $120,000 held by Hammerslag and his son, Gary, who serves as a vice president for the company.