Irvine-based DynTek Inc., a provider of techology services, said Tuesday it plans a cost-cutting effort to save $1.6 million yearly.
The company said it plans to focus on general and administrative expenses, which could mean layoffs.
“While increased sales is a key catalyst for the company to drive profitable
growth going forward, we realize the significant impact cost reductions and
expense controls can have on the profitability of the business,” said Casper
Zublin Jr., the company’s chief executive.
DynTek reported a net loss of $3.7 million for the quarter ended March 31. That’s wider than its $1.1 million loss in the year-ago period.
Quarterly sales were $19 million, up from $12.1 million a year earlier.
DynTek trades on the low-profile over-the-counter exchange with a recent market value of $25 million.
The company does computer outsourcing work for state and local government agencies.
