MRV Earnings Surge 81% in 4th Quarter
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MRV Communications Inc., the Chatsworth maker of semiconductor laser diodes, reported earnings surged 81% in the fourth quarter that ended Dec. 31 to $575,000 from $317,000 in the same quarter a year earlier. Revenues for the quarter shot up 159% to $6.2 million from $2.39 million the previous year.
For the year, earnings increased 91% to $1.6 million from $839,000 in 1993. Revenues for the year were up 136% to $17.5 million from $7.4 million a year prior.
The company also said it netted about $9.3 million in a public offering of 900,000 shares of common stock at a price of $12 per share which was completed last month.
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