Zeos International Ltd, St Paul, Minnesota looks like an early casualty of the personal computer price wars – it reported a second quarter loss and expects to return to profitability, but said its bank does not intend to renew its credit line set to expire December 1992 – due to adverse market conditions and recent financial performance of the company, Zeos said that its bank recently reduced its revolving credit line to $8m and told the company that it did not intend to renew the line; Zeos said it is currently exploring alternative sources of working capital financing and that at June 30, it had $6.9m in cash, cash equivalents and short term investments, $748,000 in short term bank borrowings and no long term debt; it says it has cut costs and trimmed its work force by 106 people, including 93 people who were given notice on Friday; it also plans to introduce some new products, increase production of those products already launched and expand its distribution channels.
