Delphi Information Loses $302,000 in 1st Quarter

Delphi Information Systems reported a $302,000 loss in its first quarter, which ended June 30, compared to a profit of $21,000, or 1 cent per share, a year earlier. Sales for the quarter fell 15%, to $4.3 million. Delphi, based in Westlake Village, sells computer systems to insurance agents and brokers who do accounting and financial analysis. The company has suffered from a slowdown in the insurance industry. In its second quarter, however, Delphi signed a five-year agreement with CIGNA that could be worth $40 million in sales for Delphi.