Photo Acoustic Technology Reports Increase in Profit

Photo Acoustic Technology said its profit in the third quarter that ended Oct. 31 rose to $47,615, or 2 cents a share, from $30,584, or 1 cent a share, a year earlier.

The Westlake Village company, which makes equipment used to detect contaminants in highly technical manufacturing, said its revenue fell 4% in the quarter to $334,912. A company spokeswoman attributed the earnings increase in part to recent expense cuts.

For the nine months, earnings fell 32% to $79,784, or 3 cents a share, from $117,073, or 4 cents a share, a year earlier. Revenue climbed 5% to $947,608.