Micropolis Corp.'s Losses Grow as Revenues Decline

Micropolis Corp., a Chatsworth maker of computer disk drives, said its loss widened in the fiscal third quarter that ended Sept. 29 to $17.5 million from $10.9 million in the same quarter last year. Revenues fell 26% during the quarter to $58.8 million from $79.3 million a year ago.

For the first nine months of 1995, the loss grew to $58.9 million from $35.5 million in the same period a year earlier. Revenues fell 29% short of last year's figure, to $169.8 million from $238.7 million in the first nine months last year.

The company said the swelling losses came as problems emerged with one of its disk drives. The problems ended up increasing costs of manufacturing and warranties, and resulted in the loss of some sales, the company said. Orders also slowed during the quarter.

Copyright © 2019, Los Angeles Times
EDITION: California | U.S. & World