Monitor Technologies reported a $516,186 profit for the third quarter ended Sept. 30, thanks in part to a $300,000 benefit from disposition of a product line that previously had been written off.
The profit, which came on $2.6 million in revenue, contrasts with with a loss of $46,880 on revenue of $1.9 million over the same quarter last year. The recently ended quarter was Monitor's fourth consecutive profitable quarter since writing off its automated inspection system business and establishing a $2.18-million reserve to cover disposal of the product line.
Monitor, which builds equipment to check air pollution, posted net income for the nine months ended Sept. 30 of $931,219 on revenue of $7.43 million. That contrasted with a net loss of $2.5 million on revenue of $7.35 million over the same three quarters last year.