Astro Sciences Reports 64% Decline in Income

Astro Sciences Corp., the Chatsworth maker of computer networking products, said its income for the fiscal third quarter that ended Dec. 31 was $27,076, down 64% from $75,836 in the same period a year prior. Revenues were a record $3.95 million for the quarter, up 9% from $3.61 million the previous year.

For the first nine months of the fiscal year, the company’s loss was $941,166, compared to earnings of $50,091 in the first nine months of the previous fiscal year. Revenues for the nine months were a record $9.8 million, up 9% from $9.02 million a year earlier.

The company said earnings declined in the third quarter due to new marketing and research costs, while sales improved because the company lowered prices and increased marketing efforts.