MRV Communications’ Net Surges to $402,000

MRV Communications Inc., a Chatsworth-based maker of semiconductor diodes and fiber-optic data links, reported record third-quarter profit and sales.

The company posted a profit of $402,000 in the quarter that ended Sept. 30, more than double earnings of $173,000 reported a year earlier. Sales in the latest quarter totaled $4.73 million, compared to $1.92 million a year earlier.

For its nine-month period, the company reported net income of $1.04 million on sales of $11.3 million, compared to year-earlier profit of $522,000 on sales of $5.03 million.

Noam Lotan, chief executive of MRV, attributed the earnings growth to expanded sales across the company’s product line. New orders in the third quarter totaled $5.3 million, he said, compared to $2.3 million in the third quarter of 1993.