Hadron Inc., after recording a large write-off, reported a $2.3 million loss for the second quarter of its fiscal year. The firm had lost $110,205 in the same period a year ago.
The results gave the Fairfax-based computer services firm a $2.3 million loss for the first six months, compared with a profit of $18,554 (13 cents a share) for the first half of the previous year.
The company said it took $2.1 million in nonrecurring write-offs and reserves in the quarter. These included write-offs for bad debts and write-downs of certain assets held by the company that have declined in value.
Revenues rose, reaching $7.6 million vs. $7.3 million in the same quarter a year ago. For the six months, revenue was $15.2 million, compared with $14.1 million.
Hadron President James Arnold said that despite the setbacks, "we remain optimistic about Hadron's future."
Hadron provides technical and consulting services in engineering, computers and communications. Its clients include private companies and the federal government.
Penril DataCommNetworks Inc. reported a $1.5 million profit in its second quarter, an increase of 40 percent over the same period a year ago.
The company's earnings rose to 29 cents a share from 22 cents in the year-earlier period. Revenue reached $13 million from $11 million the year before.
For the six-month period ended Jan. 31, the company showed similar increases. Earnings climbed 45 percent to $2.7 million (53 cents a share) from $1.8 million (39 cents) for the same period the year before. Six-month revenue was $25.5 million, compared with $21.4 million in the first six months of fiscal 1990, the company said.
Penril Chairman Henry Epstein attributed the Gaithersburg firm's strong showing to new product introductions. Penril manufactures data communications equipment and test and measurement instruments.
The company also said it is transferring its stock listing to the NASD National Market System from the American Stock Exchange. The company expects the change to become effective around April 15. The Nasdaq symbol will be PNRL.
PHP Healthcare Corp., the Alexandria-based supplier of medical services for the Department of Defense and other government agencies, said it earned $1 million (31 cents a share) in its fiscal third quarter, up 55 percent over the $742,000 (20 cents) it earned in the same period last year.
Revenue for the quarter ended Jan. 31 rose 11 percent to $24 million from $22 million.
In the first nine months of its fiscal year, PHP had a $2.7 million profit (80 cents), more than double the $1.3 million (35 cents) a year ago. Revenue in the period increased to $70.2 million from $57.9 million. The per-share figures do not take account of a 1-for-4 stock split in the form of a 25 percent stock dividend payable on Feb. 25 to holders of record on Feb. 11.
Star Technologies Inc.,a manufacturer of computer products based in Sterling, reported that it earned $85,000 in the third quarter ended Dec. 31. The company lost $2.2 million in the third quarter a year ago.
Star Technologies cited three reasons for the gain: a recapitalization plan that allowed it to retire debt and reduce interest expense; reduced operating expenses, including a 38 percent decrease in research and development spending; and higher sales of its array processors.
Revenue in the third quarter increased to $8 million, up 16 percent from $6.9 million the year before. In the first nine months of the year, Star Technologies lost $140,000, compared with a loss of $3.5 million in the same period a year ago. Revenue in the nine-month period declined 5 percent to $24.6 million from $25.9 million.