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Thursday, Mar 28, 2024

Net Loss For MRV in Q4

Expenses related to the acquisition of another company contributed to a net loss for the fourth quarter at MRV Communications Inc. The Chatsworth-based optical components maker closed on its purchase of Fiberxon Inc. in July and then merged it with subsidiary Luminent Inc. under the name Source Photonics. MRV took an inventory write-down of $2.3 million related to the acquisition. For the fourth quarter, the company reported a net loss of $1.4 million, or a loss of $0.01 per diluted share, on revenues of $140.9 million. For the same period in 2006, the company had net income of $593,000 on revenues of $102.6 million. For fiscal year 2007, the company reported a net loss of $18.6 million, or a loss of $0.13 per diluted share, on revenues of $448.2 million. For fiscal year 2006, the company reported a net loss of $5.5 million, or a loss of $0.05 per diluted share, on revenues of $356.5 million.

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