Patlex Reports Quarterly Profit More Than Doubles

Patlex, a Chatsworth company that invests royalties it earns from certain laser patents, said its first-quarter profit more than doubled from a year earlier.

In the quarter that ended March 31, Patlex’s net income jumped to $797,000 from $287,000 a year earlier. Its revenue, which also includes payments that Patlex receives from settling patent-infringement lawsuits it has filed, rose to $2.19 million from $1.88 million.

Patlex receives 64% of the royalties from patents held by Gordon Gould, a laser pioneer whose legal struggle to secure the patents was financed by Patlex. Patlex also formerly manufactured lasers and electronic products, but spun off those assets in February to form a company named Geotek Industries, also based in Chatsworth.