MAI Basic Four Reports Net Income of $2.5 Million

MAI Basic Four, the once-faltering Tustin computer maker, Monday reported net income of $2.5 million in its fiscal third quarter, the first full quarter under its new owners and managers.

For the period ended June 30, the company, now privately held by New York investor Bennett LeBow, had revenues of $59.3 million, compared with $61.2 million a year ago. Last year the company lost $4.2 million in the comparable quarter.

Basic Four executives attributed the gains to lower operating expenses, staff cutbacks and more efficient buying of its manufacturing materials.

Basic Four, considered among the pioneers of mid-sized business computers, was wallowing in red ink for two years until LeBow bought the company in January for $105 million. LeBow immediately laid off about 300 workers, including all but four of its top 23 executives, cut its Canadian operations and ordered executives to target select market groups rather than sell scatter-shot throughout all industry segments.