Applied Data Reports Reduced Losses

Applied Data Communications, the Tustin manufacturer of equipment for the personal computer industry, said Thursday its financial results showed sharp reductions in losses for the company’s third fiscal quarter and reduced profits for the first nine months, ended Dec. 31.

Applied Data, which has been reporting reduced earnings for more than a year, had a net loss of $81,000 in the quarter, a big reduction from losses of $298,000 for the same quarter a year ago. Revenues rose 5% to $1.88 million, compared to $1.79 million a year ago.

In the first nine months, the company reported a net income of $120,000, down 49.8% from $239,000 earned in the same period a year earlier. Revenues for the period were $7.7 million, down 10.5% from $8.6 million a year earlier.

Pat Kane, the firm’s president, said the third-quarter results reflect continued weak demand for equipment by companies in the personal computer software and disk drive manufacturing businesses.

Applied Data designs, manufactures and markets equipment for duplicating diskettes and equipment for testing various disk drives.