Alpharel Posts Decline of 84% for 3rd Quarter

Alpharel Inc. said its profit for the third quarter ended Sept. 30 fell 84% to 51,000, or 1 cent a share, contrasted with $324,000, or 5 cents a share, a year earlier. However, revenue rose 37% to $4.9 million, from $3.6 million a year earlier.

The Camarillo optical disk maker attributed part of its profit decline to a $747,000 loss it took on an $18-million investment in government bonds.

For the nine months ended Sept. 30, the company reported revenue of $10.7 million and a loss of $244,000, or 1 cent a share. In the same period a year earlier, the company had revenue of $9.7 million and a profit of $738,000, or 13 cents a share.