Revenue at Aurora Electronics Declines 35% in Third Quarter

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.