MOUNTAIN VIEW, Calif. - Drexler Technology Corp., provider of a laser-optical card technology that competes with chip cards, earned $162,000 in the last three months of 1995.
Revenues for the quarter, the third of Drexler's fiscal year, more than doubled to $1.2 million from $533,000 a year earlier.
The result did not offset losses in the previous six months of the fiscal year. The nine-month net loss was $1.4 million, or 17 cents a share, compared with a year-earlier loss of $2 million or 26 cents.
Revenues for the nine months rose to $2.6 million from $1.2 million.
Third-quarter sales included orders of 30,000 cards from an undisclosed U.S. company and 50,000 from an Italian company; an unspecified order from the U.S. Army; a $1 million distribution license in Korea, and a contract with IBM China/Hong Kong Corp. for the Hong Kong Hospital Authority patient card program.
Drexler said it has no debt. Its cash position at the end of December was $1.5 million, up from $1.2 million a year earlier.