Technology Research Slides

Shares fall more than 20% after its loss widens.
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Technology Research

(TRCI)

saw its shares tumble after the company's loss for the fiscal second quarter widened year over year.

Revenue for the electrical-safety products company totaled $9.7 million for the fiscal quarter ended Sept. 30, up from $8.7 million last year. However, its loss was $416,000, or 7 cents a share, compared with $245,000, or 4 cents a share, in the same period a year ago.

Robert Wiggins, Technology Research's president and chief executive, attributed the latest quarter's loss to a $468,000 inventory writedown.

For the full year, Technology Research withdrew its profit and revenue guidance. Orders for some of the company's newly developed products are not materializing as quickly as originally projected and are expected to be delayed until future quarters, the company said.

Technology Research's shares fell $1.19, or 22.7%, to $4.05.