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Systonetics Reports 18% Drop in Net Income for Year

May 09, 1985

Systonetics Inc., a Fullerton software systems company, said net income for its 1985 fiscal year decreased 18% to $624,000 from $763,000 in fiscal 1984. Annual revenues, however, increased 15% to $8.9 million from the $7.7 million reported a year ago.

And for the fiscal 1985 fourth quarter, ended Feb. 28, the company reported a 162% increase in net income and a 54% rise in revenues.

Fourth-quarter net income increased to $618,000 from the $236,000 reported for the year-ago quarter, the company said, and revenues rose to $3.3 million from $2.1 million.

"We have established substantial momentum during the year and are encouraged by the outcome for the company's products," Richard Tanaka, president, said in a statement.

American Businessphones Reports 71% Profit Hike

American Businessphones Inc. reported a 71% increase in net income for its third quarter, ended March 31. Earnings rose to $208,528 from $121,673 in the same period a year ago.

In addition, the Irvine company's revenues for the quarter rose 67% to $4.1 million from $2.5 million in the fiscal 1984 third quarter.

American's net income for the first nine months of fiscal 1985 increased 85% to $666,763 from the $360,281 reported for the first three quarters of fiscal 1984. The company's nine-month revenue rose 87% to $11.4 million from $6.1 million.

In reviewing operations, American Businessphones President and Chairman Frank J. Feitz said in a statement that the improvement in revenues was a direct result of increased market penetration, additional sales personnel and the opening of new sales, installation and maintenance centers.

American Businessphones Inc. is engaged in the sale, installation and maintenance of telephone systems for commercial customers. The company focuses its marketing activities on small and medium-size businesses, including branch offices of large companies.

Quarterly Loss Widens for Environmental Firm

Environmental Diagnostics Inc., an Irvine manufacturer of test kits used to monitor pesticide and herbicide levels in the environment, said its first-quarter loss widened to $191,027 from the $50,291 loss reported for the same period last year.

Revenues in the calendar quarter jumped from $3,015 to $40,094, but EDI President Arden A. Kelton said $37,074 of the revenue came from interest income rather than sales. The interest was earned on the proceeds of the company's initial public offering in September, 1984. At the end of its first quarter, EDI held about $1.45 million in cash and certificates of deposit and had total liabilities of $19,491.

A spokeswoman for the company attributed the first-quarter loss to one-time start-up costs associated with the expansion of EDI's research and development efforts, the hiring of additional personnel and the purchase of laboratory equipment.

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