New Image Reports Losing $1.61 Million in 4th Quarter

New Image Industries Inc., the Canoga Park-based developer of dental cameras, reported a loss of $1.61 million for its fourth fiscal quarter ended June 30, in contrast to earnings of $1.45 million in the same period a year earlier. Revenues for the quarter were $8.46 million, up 5% from $8.05 million the year before.

For its fiscal year, New Image reported a loss of $347,000, in contrast to earnings of $5.61 million in fiscal 1994. The loss was on revenue of $31.6 million, up 3% from $30.6 million a year earlier.

New Image attributed the fourth-quarter results to its placement of $2 million in reserve pending the outcome of a patent infringement lawsuit against the company, while it said the annual results were affected by the impact of the Jan. 17 Northridge earthquake on its sales operations.