Alyn Losses Grow in 3rd Quarter; Data Processing’s Income Up 66%

Alyn Corp. reported that its net losses widened in the third quarter, largely from costs related to its new manufacturing facility in Irvine.

The company, which produces industrial materials, said it lost $833,000, or 10 cents a share, compared with a net loss of $174,000, or 2 cents a share, a year ago. Revenue rose to $22,000 from $12,000.

For the nine-month period, the net loss totaled $1.2 million, or 15 cents a share, compared with a net loss of $224,000, or 3 cents a share, for the same three quarters last year. Revenue decreased 31% to $158,000 from $228,000, as the company halted operations earlier in the year while it completed a full review and developed a comprehensive business, marketing and manufacturing plan.

The company launched its initial public stock offering on Oct. 22.