Micropolis Reports Steep Drop in Quarterly Profit

Micropolis Corp., a Chatsworth maker of computer disk drives, said its second-quarter profit plunged to $253,000 from $2.36 million a year earlier because of slumping orders and price cutting.

The figure for the quarter ended June 28 was not a surprise. The lower results had been forecast by Micropolis in a June 13 announcement, and they represented a marked change from the company’s improved performance during this year’s first quarter.

Micropolis’ second-quarter sales fell 11%, to $86.4 million from $97.3 million. Despite the second-quarter downturn, the company’s profit for the first half of 1991 jumped to $6.38 million from $1.30 million a year earlier, and its six-month sales rose 10% to $190 million from $173.2 million.