XEBEC <XEBC> TO REPORT 2ND QTR LOSS Xebec Corp said it expects to report a loss for its second quarter ended April three, due principally to a decline in sales to International Business Machines Corp <IBM>, the company's largest customer. Xebec also said it expects revenues to total about 23 mln dlrs. The company reported a second quarter loss last year of 1.9 mln dlrs, or 14 cts per share, on 23.9 mln in revenues. Xebec said IBM has historically accounted for about 50 pct of the company's revenues, but that total fell to 20 pct during the quarter just ended. IBM had used Xebec's hard disk drive controller products in the IBM PC/XT, a product which IBM is phasing out. Xebec said it intends to continue streamlining its operations in light of the loss of business. The company also said it has already consolidated two of its plants in Nevada and it now plans to sell unused and surplus assets to provide additional liquidity.