Alpharel Reports 5th Profitable Quarter in Row

Alpharel Inc., a Camarillo producer of computer imaging systems, said its profit for the third quarter that ended Sept. 30 rose 38% from the year-earlier quarter on a 27% increase in revenue. It was the company’s fifth profitable quarter in a row after a series of losses nearly plunged Alpharel into bankruptcy last year.

For the three months that ended Sept. 30, Alpharel earned $365,000 compared with $265,000 for the third quarter last year. Revenue rose to $1.8 million from $1.4 million a year earlier.

For the nine months that ended Sept. 30, the company posted a $1-million profit compared with a year-earlier loss of $125,000. Alpharel’s revenues for the three quarters rose 26% to $4.85 million compared with $3.8 million last year.

Separately, Alpharel said it plans a public offering of 750,000 units, each consisting of two shares of common stock and one warrant to buy a share at a later date.

At present stock prices, the offering would raise about $1.6 million, not including exercise of the warrants. The offering has been filed with the Securities and Exchange Commission but is not expected to become effective until December, Alpharel said.

Alpharel had been struggling but in the last year, it has rebounded due to cost-cutting, restructuring and several large contracts for its imaging systems.