Revenue at Aurora Electronics Declines 35% in Third Quarter

IRVINE — Aurora Electronics Inc. narrowed its losses for the third fiscal quarter ended June 30 while revenue declined.

The company, which provides computer spare parts support and electronics recycling, reported a net loss of $4.2 million, or 68 cents per share, compared with a net loss of $16.5 million, or $1.90 a share, for the same period last year. The 1995 figure included $4.7 million in restructuring and other charges. Revenue was down 35% to $20.8 million from $31.9 million.

The company said the revenue decline was primarily due to the elimination of the Premier division during fiscal 1995, and a reduction in revenue in another division due to continued industrywide declines in semiconductor memory pricing.

For the nine months, the company posted a net loss of $11.2 million, or $1.50 a share, compared with a net loss of $15.4 million, or $1.86 a share, for the comparable period of the prior year. Sales dropped 26% to $78.9 million from $107.3 million.