Micropolis Reports $9.76-Million Loss

Micropolis Corp., a Chatsworth disk-drive manufacturer, reported a $9.76 million first-quarter loss, while its revenue declined 12% to $83.7 million.

The company said its performance suffered in the quarter ended April 1 because of higher sales of a less profitable disk drive, and continued investment in new products that have yet to generate sales. It also suffered $1 million in earthquake damage.

In the year-earlier quarter, Micropolis earned $1.46 million on $94.6 million in revenue.