An article in yesterday's Business section incorrectly reported Iverson Technology Corp.'s revenue for the first six months of the year. The correct figure is $7.7 million.
Genex Corp. reported a second-quarter loss of $2.3 million (18 cents a share), compared with a net loss of $2 million (15 cents) for the same quarter last year. Sales also declined, to $4.9 million from $7.8 million.
For the first six months of the year, the company's net loss grew to $4.7 million (37 cents) on sales of $9.7 million, from $3.6 million (28 cents) on sales of $13.3 million for the same period the year before.
The Rockville-based biotechnology company blamed the lower sales and profits on the drop in the selling price of L-phenylalanine (a substance used in the manufacture of the sugar substitute aspartame).
*Iverson Technology Corp. and its subsidiary, International Technology Corp., earned $435,000 (25 cents a share) on revenue of $3.9 million for its second quarter, a substantial turnaround from a net loss of $14,000 (one cent) on revenue of $596,000 for the same period last year.
For the first six months of the year, net income was $858,000 (49 cents) on revenue of $7.7 billion, compared with a loss of $108,000 (6 cents) on a revenue of $894,000 for the same period in 1984.
Don Iverson, president and chairman of the computer systems integration firm based in McLean, attributed the sharp revenue increases to sales of modified International Business Machiness Corp. personal computers.
*Classic Corp. of Jessup, Md., announced a net loss of $201,000 (10 cents a share) on sales of $8.5 million for its fourth quarter ended June 30, compared with a net profit of $163,000 (8 cents) on sales of $8.8 million for the same period a year ago. Net income dropped to $513,000 (27 cents) in the fiscal year from $802,000 (45 cents) for fiscal 1984. Sales for the fiscal year were $37.6 million, compared with $34.1 million.
Isaac Fogel, chairman and chief executive officer of the waterbed company, said that the loss for the quarter was primarily the result of a softening in the home furnishings market.