Urethane Technologies Posts Loss

SANTA ANA — High-tech plastics manufacturer Urethane Technologies Inc. reported a loss Tuesday of $2.3 million, or 23 cents a share, for 1995, compared with a year-earlier loss of $5.3 million, or 71 cents a share. Revenue of $26.6 million last year, however, was almost double the $13.4 million reported for the previous year.

The company said its financial performance was affected by a $1.6-million loss for discontinued operations.

That loss was taken in the fourth quarter, giving the company a net loss of $2 million, or 20 cents a share, for the final three months, compared with a loss of $3.1 million, or 37 cents a share, for the last quarter of 1994. Quarterly sales were $6.1 million, a 30% increase from $4.7 million for the year-earlier period.

Urethane Technologies develops and markets polyurethane systems for use in a variety of applications ranging from construction components and automobile parts to office furniture and wheels for in-line skates.

The company said its recently announced acquisition of chemical components producer Brin-Mont Corp. should increase net sales and help improve profit margins by giving Urethane Technologies an in-house source of vital raw material. Company officials say Urethane Technologies is in transition, becoming a manufacturing and marketing company after years in the research and product development stage.