Micropolis Rebounds to Post $2.88-Million Profit

Micropolis Corp., rebounding strongly from recent problems, reported a $2.88-million profit in the third quarter, compared with a $23.7-million loss a year earlier.

The Chatsworth-based maker of computer data-storage products said the latest earnings came on a 50% surge in sales in the quarter that ended Sept. 28, to $99.8 million from $66.5 million.

For the first nine months of 1990, Micropolis earned $4.18 million, compared with a $47.6-million loss a year earlier, and its nine-month sales rose 21% to $273.1 million from $226.4 million.

Micropolis also said it paid $1 million to settle a stockholders’ class-action lawsuit brought against the company last year. The suit, among other things, accused management of making misleading statements about the health of Micropolis to artificially inflate the company’s stock price.

Micropolis denied any wrongdoing, but said it settled to avoid further legal costs. The $1-million payment “will not have any material effect on the company’s financial position or operating results,” Dale J. Bartos, Micropolis’ chief financial officer, said in a statement.