Astro Sciences’ Profit Down 80% in 3rd Quarter

Astro Sciences Corp., a Chatsworth manufacturer of computer networking products, reported an 80% plunge in its profit for its fiscal third quarter ended Dec. 31. The drop resulted from increased research, development and marketing expenses, the manufacturer said.

The company’s net income of $75,836 was down from a $379,867 profit a year before. Its revenue fell 5%, to $3.61 million from $3.81 million.

For the nine months, Astro Sciences earned $50,091, down 93% from $676,558 in net income in the year-ago period. Revenue totaled $9.02 million, up 3% from $8.78 million.