MRV Reports 85% Jump in Its Quarterly Profit
MRV Communications Inc., a Chatsworth-based manufacturer of semiconductors, announced record earnings and revenue for the second quarter that ended June 30.
The company reported a profit of $349,000 for the June quarter, up 85% from a profit of $189,000 in the same three-month period a year earlier. Revenue in the latest quarter more than doubled to $3.85 million from $1.73 million in the year-earlier period.
For the first six months of 1994, MRV reported earnings of $641,000 on revenue of $6.61 million, compared to a profit of $349,000 on revenue of $3.11 million a year earlier.
Noam Lotan, chief executive of MRV, said new orders received during the second quarter were $4.78 million, up 136% from a year earlier.