Computer Networker Cuts Quarterly Loss

Astro Sciences Corp., a Chatsworth maker of computer networking products, reported a loss of $37,930 for the fiscal fourth quarter ended March 31, down from a quarterly loss of $341,713 during the same three-month period a year earlier.

The company attributed the latest loss to a write-off of $354,471 in deferred tax assets, an accounting adjustment “that is not expected to recur in the future,” said John Grady, vice president of finance.

During the fourth quarter, Astro Sciences had record revenues of $5.16 million, up 91% from $2.70 million the previous year.

For the full year, the company posted a net loss of $979,096 compared to a loss of $291,622 during the prior fiscal year. Revenues for the year were $14.96 million, up 28% from $11.72 million in the prior year.