Cimco Inc. reported a net loss of...

Cimco Inc. reported a net loss of $74,005 for the quarter ended July 31, contrasted with net income of $911,502 for the same period a year ago. Sales for the first quarter of fiscal 1990 declined 14%, to $11.3 million from $13.2 million.

Russell T. Gilbert, president and chief executive, said results were significantly below expectations because of “greatly reduced customer requirements during the period and the higher-than-anticipated expenses associated with starting up a number of new product lines, which were not running profitably until the end of the quarter.”

Cimco, based in Costa Mesa, manufactures thermoplastic custom products and supplies custom polymeric compounds to original equipment manufacturers in the electronics, computer, transportation, health-care and defense industries.