Drugs Sales Boost Profits for Viratek

With sales of its anti-viral drugs on the rise, Viratek Inc. reported a third quarter increase in net income to $73,000 compared to a loss of $176,000 during the same period last year.

The Costa Mesa-based medical research and development firm also posted a 70% increase in sales for the quarter ended Aug. 31, to $759,000 from $444,000.

For the nine months, however, the company reported net losses of $1.46 million compared to losses of $957,000 for the same period last year. During the same period, revenues were up 120% to $1.56 million compared to $710,000 for the year-ago period.