In a reversal of fortunes, Cincinnati Microwave now says it will be reporting a loss for the fourth quarter as well as a loss for the full year. In November, when it reported results for the first nine months, the company said it expected to be in the black for the October-December period, though it acknowledged that 1995 would be its seventh consecutive year in the red.
President Jacques Robinson said the company remains "on track to achieve our goal of doubling full-year sales of our cordless telephones with SureLink." But despite the strong showing of its cordless phones, Robinson added, "ongoing cost overruns in all product areas, combined with softening of the radar detector market, will result in a loss for the quarter."
For 1994, Cincinnati Microwave had a net loss of $10.3 million on sales of $64.7 million. Revenue included $14.1 million from sales of cordless phones and $46.6 million from its core radar/laser detector business. Through the first nine months of this year the company had a loss of $4 million on sales of $41.3 million. Sales of its spread-spectrum cordless phones for the period exceeded the 1994 full-year total, coming in at $14.4 million. Nine-month sales of detectors amounted to $39.3 million.