CAMBRIDGE ANALYTICAL <CAAN> SEES FIRST QTR LOSS Cambridge Analytical Associates Inc said it expects to incur a loss for the first quarter of fiscal 1987 equal to or greater than its loss of 240,697 dlrs for the fourth quarter ended December 31, 1986. Cambridge said it expects revenues for the first quarter to be approximately the same as those recorded for the fourth quarter ended December 31, 1986, of 1,025,961 dlrs. Cambridge recorded a profit of 2,204 dlrs on revenues of 847,000 dlrs for the first quarter of fiscal 1986, the company said. The company attributed the expected loss to lower than expected sales from its laboratory and consulting business and planned major investment in its proprietary treatment technology. The company said winter is traditionally its slowest season.