Zenith Electronics Corp., which recently launched an effort to re-engineer its core television and cable business, Tuesday reported fourth-quarter 1993 pretax operating results that were essentially unchanged from the same quarter in 1992-a loss of $5 million before restructuring charges.
After those charges, the fourth-quarter net loss widened to $36 million, or $1.04 a share, from a loss of $20.3 million, or 67 cents a share, a year earlier. The year-earlier results included a $15 million charge.
Sales in the quarter declined to $361 million from $385 million.
For the year, Zenith reported a net loss of $97 million, or $3.01 a share, compared with a 1992 loss of $105.9 million, or $3.59 a share. Sales slipped to $1.228 billion from $1.243 billion.
Beset with a $26 million drop in sales in its non-core business areas along with an $8 million price reduction of its color television sets in 1993, Zenith has launched a major cost-reduction effort.
The company spent $31 million in the fourth quarter on restructuring and re-engineering efforts launched in December.
