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EARNINGS

Gateway Communications Reports $321,573 Quarter

July 15, 1986|-LESLIE BERLKMAN

Gateway Communications Inc., an Irvine-based computer equipment manufacturer, reported second quarter net income of $321,573, more than triple the $76,590 reported for the second quarter of last year.

Second quarter revenues increased 194% to $2.7 million from $934,893 for the year-ago quarter.

For the first six months of 1986, the company reported net income of $573,530, up more than 374% from $120,852 for the comparable 1985 period. The company had six-month revenues of $4.9 million, up 210% from $1.58 million for the first half of 1985. David S. McMaster, Gateway Communications' president and chief executive officer, said second quarter net sales were higher than anticipated primarily because of the growth of Gateway's international business. "We now have representation in 25 foreign countries, and international revenues have accounted for over 30% of total company revenues in the first six months of 1986," he said.

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