Gateway Communications Inc. said its third-quarter net income was $441,959--a 38% drop from the $713,805 reported a year earlier. Revenues for the third quarter were $3.3 million--a 65% increase from $2 million.
The Irvine-based manufacturer of systems to link personal computers showed profits of $1 million for the first nine months of 1986, up 20% from $834,658.
The drop in third-quarter earnings was expected because earnings for the same quarter last year were inflated by a $237,350 tax loss carry-forward, said Michael E. Dailey, Gateway's controller.
A $54,650 tax loss carry-forward in the second quarter of 1985 combined with the third-quarter carry-forward to boost Gateway's nine-month results by $292,000, Dailey said.