American Businessphones Reports Strong Profits

Maintaining its rapid rate of growth, American Businessphones Inc. of Irvine announced Wednesday that fourth-quarter and full 1985 fiscal year profits more than doubled on strong sales increases.

For the quarter ended June 30, the company, which sells telephones for small- and medium-sized businesses, reported net income of $282,000, about 150% higher than the $112,000 recorded in the year-ago period. Sales for the quarter were $4.8 million, up 63% from the $2.9 million of the prior year.

For the full year, net income was $949,000, a 101% increase over the $472,000 recorded last year. Sales for the year were $16.3 million, 79% higher than the $9.1 million reported last year.

Frank Feitz, American Businessphones’ chairman and president attributed the record results to an increase in new accounts, additional sales personnel and the opening of new sales, installation and maintenance centers. During the year, the company opened five new offices and more than doubled the number of its employees.

Feitz said later this year the company expects to open offices in Sacramento, Walnut Creek, the San Fernando Valley and Santa Fe Springs and expand outside California to Phoenix, Dallas and Minneapolis. In addition he said the company, which recently opened its first retail sales center in Costa Mesa, expects to have similar centers in downtown Los Angeles, Anaheim and the Riverside/San Bernardino area.