Executone Information Systems Inc, the video entertainment, Internet gaming and computer telephony company pre-announced a second quarter loss this week, blaming declining demand on a large distributor it declined to identify. The Milford, Connecticut-based company released a statement saying says that a major change in the distributor’s purchasing patterns have resulted in losses, expected to be around $0.05 per share for the second quarter. The distributor accounted for about 45% of Executone’s computer telephony systems and about 20% of overall business. Executone’s downgraded revenue and income mean that overheads and expenses will be under review.
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