Irvine Sensors reported a loss of $2 million for the fiscal year ended Sept. 27, compared to a loss of $1.8 million a year ago. Revenues for fiscal 1987 totaled $1.5 million, compared to last year's $2.6 million. James Alexiou, president, said revenues started to improve late in the year from announced contract awards but that projections for fiscal 1988 were still uncertain due to federal budgetary delays. Fourth-quarter results were not available. Irvine Sensors, with headquarters in Costa Mesa, is primarily engaged in the development of infrared devices and high-density electronics packaging for military and commercial systems.