Tandon Reports Profit Plunged in 1st Quarter
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Tandon Corp., a Moorpark maker of personal computers, reported that its first-quarter profit plunged 83% from a year earlier, as the company continued to suffer from the worldwide economic slowdown and the strength of the dollar versus foreign currencies.
In the quarter ended March 31, Tandon earned $1.04 million, compared to $6 million in profit in 1991’s first quarter. Sales fell 10% to $108 million from $120.3 million.
About 78% of Tandon’s sales are in Europe.
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