Bioplastics maker Cereplast Inc. on Tuesday reported a 62 percent larger second quarter net loss of $3.9 million, with sales down 97 percent to $190,000.
The El Segundo company, which supplies a resin primarily used to make ecologically friendly plastic packaging, said the drop was due a reorganization in which it reduced its exposure to riskier direct sales overseas and focused instead on existing U.S. customers, which comprised most of its sales in the period.
