TransTechnology Reports $7.22-Million Net Loss

TransTechnology Corp. in Sherman Oaks, a struggling conglomerate that produces a wide array of industrial and defense-related products, reported a $7.22-million net loss for its fiscal second quarter ended Sept. 30, while revenues fell 7% to $40.5 million. A year earlier, the company lost $745,000 on $43.8 million in revenue.

The company’s loss in the latest six-month period widened to $6.37 million from $451,000 a year before. Revenue totaled $77.5 million, down 9% from $84.8 million.

TransTechnology said its second-quarter and first-half financial results were hurt by a $2.6-million charge for costs associated with previously announced plans to relocate its headquarters to New Jersey and reduce its corporate staff. The results also included a charge connected with a product-liability claim and costs associated with reorganizing the chairman’s office and discontinuing some of its operations, the company said.