Irvine Sensors Posts $14.9-Million Loss

Irvine Sensors Corp., which develops and manufactures specialized microcircuitry and high-density electronics, posted a net loss of $14.9 million, or 73 cents a share, for the fiscal year ended Sept. 28. That result included a one-time plant closure cost of $5.9 million. That compares with a net loss of $15.9 million, or 94 cents a share, for the prior year. Revenue increased 14% to $13.7 million from $12 million. The fourth-quarter net loss totaled $8.5 million compared with a net loss of $5.3 million for the fourth quarter of fiscal 1996. Revenue declined 45% to $3 million from $5.5 million.