WEDNESDAY

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Tag-It Pacific Inc.

reported first-quarter a net loss of $520,031 (4 cents per share) compared with $1.2 million (-9 cents) a year ago. Net sales for the Los Angeles-based zipper and trim maker fell 18.5 percent to $10.6 million. While its Asian operations have grown in line with an overall industry shift from Latin America to Asia, the company said it has not fully regained the volume losses arising from the decline within the Mexican marketplace or a 2005 restructuring that eliminated assembly operations in Mexico and manufacturing operations in the U.S.

TUESDAY

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ARTISTdirect Inc.

reported a first-quarter net loss of $16.4 million (-$2.81 per share) compared with $375,000 loss (-11 cents) a year ago. Revenues the Los Angeles-based digital entertainment company rose 309 percent to $5.3 million, which the company said was in large part due to its acquisition of MediaDefender last year. Included in net loss was a charge to other expense of $14.6 million relating to new stock warrant reporting requirements.

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Computer Sciences Corp.

reported fourth-quarter net income of $199.4 million ($1.05 per share) compared with $411.8 million ($2.13 cents) a year ago. Sales for the El Segundo-based provider of information technology outsourcing, consulting and systems integration services rose 3 percent to $3.88 billion. Commercial revenue fell by 5.8 percent, dragged down by exchange rates in Europe and work delays in the U.S. U.S. federal government revenue grew 13.3 percent to $1.37 billion.

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CytRx Corp.

reported first-quarter net loss of $4.2 million (-7 cents per share) compared with $3.5 million (-7 cents) a year ago. Revenues for the Los Angeles-based experimental drug developer were $60,830, up from $1,500 a year earlier. This quarter was the first since CytRx adopted the Statement of Financial Accounting Standards No. 123R, which resulted in a $345,000 stock-based compensation expense. The year-ago quarter’s results are not under SFAS 123R.

MONDAY

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Mossimo Inc.

reported first-quarter net loss of $1.17 million (-7 cents per share) compared with net income of $1.82 million (12 cents) a year ago. Revenues for the Santa Monica-based apparel and accessories maker fell 43 percent to $4.94 million. In connection with its negotiations to be acquired by Iconix Brand Group Inc., Mossimo said that it has amended and restated its license agreement with Target Corp. to extend the term through Jan. 31, 2010.

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Aspyra Inc.

reported a first-quarter net loss of $1.3 million (-15 cents per share) compared with $186,964 net loss (-6 cents) a year ago. Revenues for the Calabasas-based health care information systems provider rose 48 percent to $2.7 million. The company attributed the operating loss to delay in implementing of systems, which prevented it from recognizing revenue on many of its sales, and to costs associated with recent acquisitions.