Net Earnings Up 118% for American Businessphones Inc.

After a year of watching its earnings decline while its revenues soared, American Businessphones Inc. of Irvine reported that its fiscal 1987 first-quarter net earnings rose 118% to $102,565 from $46,937 for the same period last year. Revenues for the period ended Sept. 30 continued their rise, with a 25% jump in sales to $6 million from $4.8 million last year.

The company, which supplies telephone systems to small- and medium-size companies, had seen profits erode over the past year because of the cost of opening several new offices in California, Texas and Arizona. The company said those costs finally stabilized, enabling profits to rise because of the increased number of customers generated by the new offices.