Electro Funds Doubles Quarterly Net Income

Electro Funds Corp., the Costa Mesa-based parent of Complete Management Systems, a computer parts manufacturer and distributor, posted net income of $372,230 in its fiscal first quarter, ended Sept. 30. The earnings were more than double the $148,833 that CMS earned last year.

The company’s net sales in the quarter were $15 million, nearly three times the $5.7 million that CMS collected in last year’s first quarter. Electro Funds acquired 3-year-old CMS in April.