Irvine’s Printronix Inc., a maker of industrial printers, said a slowdown in orders led to a decline in revenue for its most recent quarter, the company said Friday.
Printronix’s revenue fell 4.5% to $31.8 million for the quarter ended June 24. Net income for the quarter was $200,000, down from $400,000 from a year ago.
Last month the company warned it might post a loss in the June quarter because of a slowdown in orders from Asian and European customers.
“We continue to believe that our strong balance sheet and core business in line matrix and high-performance thermal printers coupled with our new opportunities within (radio frequency identification tags) RFID position us well for future growth,” said Robert Kleist, Printronix chief executive, in a statement.
The company had been posting sales gains in the past few quarters, in part on the strength of its printers that use RFID tags, popular with retailers such as Wal-Mart Stores Inc.
Shares of Printronix were down nearly 2.3% to $18.4 on Friday.
