Brajdas Corp. Reports Loss for 2nd Quarter

Brajdas Corp., a struggling Woodland Hills-based distributor of electronic components, said its loss for the second quarter ended Aug. 31 widened to $3.1 million from $61,638 a year earlier, due mainly to a $2.5-million charge for discontinued products.

Second-quarter revenues dropped 20% to $9.6 million from $11.96 million last year, Brajdas said.

For the six-month period, the company’s loss widened to $3.45 million from $180,702 for the same period a year earlier. Revenues during the six-month period dropped 16% to $20.5 million from $24.3 million a year earlier.

Allan Klein, corporate vice president, blamed the results on limited product offerings and increased competition.

Brajdas also said it has signed a letter of intent to sell its BEC division, which imports private-label electronics parts and sells them to manufacturers and distributors at discount prices.

In July, Brajdas announced it planned to buy three privately held electronics distributors, collectively known as ATMC, for roughly $15.7 million in stock and notes. The companies are based in Santa Clara, which is also the headquarters for Brajdas’ principal unit, Cypress Electronics.