Graphix Zone Cuts Losses in 3rd Quarter as Sales Rise

IRVINE —  Graphix Zone Inc. narrowed its losses in the fiscal third quarter as sales soared 78%.

The interactive multimedia products company reported a net loss of $1.4 million, or 29 cents a share, for the quarter ended March 31, compared with a year-earlier net loss of $2.6 million, or 69 cents a share. Sales increased to $578,282 from $324,129.

For the nine months, the company posted a net loss of $4.3 million, or $1.11 a share, compared with a loss of $2 million, or 80 cents a share, a year ago. Sales were down 41%, to $1.6 million from $2.7 million.