Hytek sees deficit for quarter, year

Hytek Microsystems, Inc.

expects to report a loss for the fourth quarter ended Dec.

28, and the quarterly loss in turn will result in a loss for the year.

While final results will not be available for several weeks, Hytek said last week it believes that the fourth-quarter loss will be in the range of $600,000 to $700,000.

The company said the loss could be greater if a year-end audit finds that write-offs of inventory or accounts receivable are necessary.

Chuck Byrne, chairman and chief executive officer of the Carson City company, said part of the loss came when a customer halted production of a major medial product while design issues are worked out.

At the same time, Byrne said, other customers delayed orders to manage their inventories at year end.

He said both problems should work themselves out during the first half of this year.

Byrne said new and continuing business in the military aerospace sector also is expected to be strong Hytek specializes in hybrid microelectronic circuits that are used in oil exploration, military applications, satellite systems, medical devices, industrial electronics, opto-electronics and other applications.