Wyle Laboratories Profit Falls 22% in 3rd Quarter; Start-Up Costs Cited

Wyle Laboratories, the Irvine electronics distribution company, reported a third-quarter profit of $2.8 million, or 23 cents a share. That was down 22% from earnings of $3.6 million, or 35 cents a share, for the same period a year earlier.

The company said the 1993 profit was affected by start-up costs for 10 new facilities. Sales for the quarter ended Oct. 31 rose 10% to $160.8 million from $146.4 million. Profit for the year to date totaled $7 million, or 82 cents a share, which included a charge of $3.2 million for an accounting change related to post-retirement benefits. That compared to a profit of $10.7 million, or $1.02 a share, for the first three quarters of 1992. Nine-month sales showed a 12% gain to $446.1 million from $396.6 million.