Cardis revealed losses and a financing agreement.

The Beverly Hills company, parent of Tuneup Masters and a distributor of auto parts, said it expects to report a loss from continuing operations of $17.7 million on revenue of $228 million for the fiscal year ended Oct. 31, 1986. The first-quarter loss will exceed $5 million on revenue of about $58 million, it said. Cardis also arranged to sell 2.4 million shares of convertible preferred stock to Autospa Corp. for $15 million, which would give Autospa voting control of the company. If the investment group headed by Autospa exercises all its options and warrants, the investment would total between $50 million and $55 million.