Advanced Logic Research Posts $1.3-Million Loss
Advanced Logic Research Inc. reported a 22% drop in revenue and a $1.3-million loss for its latest fiscal quarter.
The loss is the computer maker’s third in a row. For its second fiscal quarter, which ended March 31, ALR said it lost $1.3 million, or 11 cents a share. That contrasted with a profit of $933,000, or 8 cents a share, for the same period a year earlier.
Three-month revenue was $43.9 million, down from $56.4 million for the same period a year earlier.
ALR, which released the figures after the close of business Thursday, did not give a reason for the loss. It attributed the decrease in revenue primarily to “heightened price competition, particularly in the United States,” for its products.
In Thursday’s trading on the NASDAQ market, the company’s stock closed at $2.50 a share, unchanged.
For the first half of its fiscal year, the company had a loss of $2.2 million, or 19 cents a share. That contrasted with a profit of $1.4 million, or 12 cents a share, for the same period a year earlier. Six-month revenue was $86.3 million, down from $105.7 million for the first half of the company’s previous fiscal year.