MRV Posts Loss of $4.71 Million

MRV Communications Inc., a Chatsworth-based maker of laser diodes and computer communication devices, reported record revenues for the second quarter that ended June 30, though restructuring charges caused earnings to plummet.

The company reported a loss of $4.71 million for the quarter, compared to a profit of $349,000 in the three-month period a year earlier. Sales totaled $8.31 million in the second quarter, more than double revenues of $3.85 million the year earlier.

For the first six months of the year, the company posted a loss of $4 million on sales of $15 million, compared to a year-earlier profit of $641,000 on sales of $6.61 million.

The second-quarter loss reflected several non-recurring charges related to the purchase of technology and restructuring costs associated with two acquisitions that closed in the second quarter.

Excluding these transaction costs, earnings for the second quarter would have been $911,000, MRV said.