Tustin’s Applied Data Triples Its Net Income
Applied Data Communications, a Tustin-based computer equipment manufacturer, reported that it more than tripled net income in its 1986 fiscal year, despite a 15% decline in revenue.
The company said it had net income of $145,000 in its 1986 fiscal year ended March 31, up 368% from $31,000 the previous fiscal year. Revenues dropped to $9.4 million from $11.1 million.
During the fourth quarter, the firm reported net income of $26,000, rebounding from a loss of $208,000 in the same quarter of fiscal 1985, despite a 34% drop in fourth-quarter revenue to $1.6 million from $2.5 million.
Applied Data Communications President Pat Kane said the company’s lower revenue in fiscal 1986 resulted from continued softness in the personal computer and software markets. He said the increase in net income reflects the company’s vigorous cost-control program that was put into effect during the year.