Nelson Research Reports 1986 Loss of $2.3 Million

Nelson Research & Development Co. reported a net loss of $2.392 million for 1986, down slightly from a loss of $2.398 million the previous year. Revenue for the Irvine-based pharmaceutical research company fell 13% to $2.6 million from $3 million in 1985.

For the fourth quarter, Nelson reported a net loss of $564,451, compared to a loss of $850,659 in the final period of 1985. Revenues for the quarter dropped 20% to $534,487 from $666,480 a year earlier.

Joe Rose, Nelson’s controller, attributed the small year-to-year reduction of its losses to lower research and general and administrative expenditures. The 1986 loss was in line with company projections made throughout the past year.

Nelson, headquartered on the UC Irvine campus, has not developed a marketable product in its 15-year history. Its only profits--in 1982 and 1983--resulted primarily from interest income.

In December, Nelson accepted a $53-million buy-out offer from Ethyl Corp. of Richmond, Va. The merger with Ethyl, which currently holds a 90% stake in Nelson, is expected to be completed by the end of March, Rose said.