StarTel Reports 3rd-Quarter Profit

StarTel Corp., the Irvine-based telecommunications firm, reported net income of $101,000 on revenues of $1.9 million in the third quarter ended Sept. 30, contrasted with a loss of $220,000 on sales of $2.9 million in the same period of 1988.

For the nine months, the company had a net loss of $848,000 on revenues of $6 million, compared with a loss of $49,000 on sales of $8.8 million in the same period of 1988.

StarTel officials said the company returned to profitability in the third quarter followed a restructuring. The company also said it plans to repurchase its shares on the market occasionally because it believes its stock is undervalued.