Blaming a "delay in the revenue stream," IRT Corp. reported a $2-million loss on $8.8 million in revenue for the third quarter ended Dec. 31. For the same period last year, IRT reported a $54,000 profit on sales of $9.6 million.
For the first nine months, IRT's net loss stands at $5.8 million on revenue of $25.9 million, contrasted with a profit of $302,000 on revenue of $30.7 million over the same three quarters last year.
IRT, a manufacturer of automated inspection and nuclear-survivability products and services, disclosed that it has arranged for the sale of two small bnusiness. Proceeds from the sale of Laboratory Testing and the company's Hazardous Materials Control product line will be added to working capital.