Distributed Logic’s Net Income Down 30%

Distributed Logic Corp. posted net income of $72,242 for its third quarter ended July 31, a 30% decrease from earnings of $103,982 in the year-earlier period. Revenues for the quarter increased 14% to $4 million, compared to $3.5 million in last year’s third quarter.

For the first nine months of the year, the Anaheim-based computer parts maker reported a loss of $259,985, contrasted with net income of $806,666 in the same period last year. Revenues for the nine months were $10.2 million, down 8% from $11.1 million a year ago.

The company attributed its nine-month loss to sales and promotion expenses involving a new line of computer data storage and communications devices. John Egerer, a vice president of the company, said Distributed Logic expects to post a profit in its fourth quarter but is likely to record a loss for the year.