Comarco Inc. said it posted record net earnings of $492,000 for its fiscal 1987 second quarter ended July 31, up 10% from $446,000. The Anaheim defense software firm said revenue during the quarter increased 137% to a record $19.2 million from $8.1 million.
For the fiscal first half, Comarco also reported record results, with net earnings climbing 24% to $1.1 million from $883,000. Revenue during the six months climbed 126% to $37.3 million from $16.5 million.
The increased revenue during the quarter and first half came primarily from two companies that Comarco acquired last year, a spokesman said. The current-year results were also restated to reflect Comarco's shift to a fiscal year ending Jan. 31, the company said.
Net income didn't keep pace with the revenue increase largely because depreciation and amortization charges increased to $850,000 during the first half, compared with $320,000 a year earlier. The accelerated depreciation and amortization charges were necessitated by accounting changes required under the Internal Revenue Code, the company said.