Micropolis Reports Profits Down 47% in 1st-Quarter

Micropolis Corp., citing lower profit margins because of price-cutting in its industry, said its first-quarter earnings tumbled 47% from a year earlier on a 4% dip in sales.

In the quarter that ended March 27, net income for the Chatsworth-based maker of computer data-storage products fell to $1.46 million from $2.76 million a year earlier.

Its sales fell to $94.6 million from $98.3 million.