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VALLEY EARNINGS

Com Systems Posts Profit of $170,000 in 4th Quarter

July 15, 1986

Com Systems earned $170,000 on sales of $5.3 million in its fourth quarter ended March 31, versus a loss of $3.85 million in the same quarter a year ago, when sales were $2.4 million.

Earnings per share were 4 cents in the most recent period against a loss of 88 cents a year earlier.

For the year, the Van Nuys-based long-distance phone company earned $210,000, or 5 cents a share, contrasted with a loss of $2.8 million, or 64 cents, in the previous year. Sales were $22.8 million, down 8.6%.

Com Systems said its fiscal 1985 figures would have been much worse were it not for the firm's Tel-America Communications division in Charlotte, N. C., which contributed $12.5 million in sales and a profit of $1.8 million that reduced the fiscal 1985 loss. The unit was sold March 31, 1985, for $10.4 million, yielding a $4.1-million extraordinary gain that further reduced Com Systems' loss.

Greg Gasson, Com Systems' chief financial officer, said the company's sharply better showing was because of a 76% increase in the time its system was used, largely because of increased wholesaling and marketing.

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