Standard Systems Says 6-Month Net Income Up

Standard Systems & Technology Inc., an Irvine commercial financing business, on Thursday reported net income of $938,333 for the first six months of its fiscal year, ended Feb. 28, a 74% increase over the $538,836 it earned for the same period last year. Revenues for the period rose 4% to $1.25 million from $1.2 million a year ago.

Total assets as of Feb. 28 grew 40% to $5.6 million from $4 million a year earlier.

SST did not report results of the fourth quarter. Besides factoring, SST also provides commercial financing, investor note financing, production funding and heavy equipment leasing.