Vertel Reports Net Loss of $3 Million in Quarter

Vertel, Woodland Hills, reported a net loss for the third quarter ended Sept. 30 of $3 million compared with a net income of $973,000 for the same period last year. Revenue dropped to $4.7 million compared with $4.9 million.

Vertel also announced it will reduce its work force, move engineering of some products offshore and move the remaining engineering functions to San Diego.

The company provides broad-band Internet software technologies and applications to telecommunications industries.