  We consider the hypothesis that the recently reported anomaly in the time
structure of signals in the KARMEN experiment is due to the production of a
light photino (or Zino) which decays radiatively due to violation of
$R$-parity. Such a particle is shown to be consistent with all experimental
data and with cosmological nucleosynthesis. There are difficulties with
constraints from SN~1987A but these may be evaded if squarks are non-degenerate
in mass.
