Gateway Communications Suffers $128,665 Loss

Delays in the shipment of new products contributed to a third-quarter loss of $128,665 for Gateway Communications, contrasted with net income of $441,959 for the comparable period last year.

Revenue for the Irvine-based supplier of personal computer networking and communications products dropped to $2.4 million in the third quarter, down 27% from $3.3 million last year.

For the nine months, net income was $728,144, a 27% decline from $1 million a year earlier. Revenues increased 19% to $9.9 million from $8.3 million.

Gateway said of seven new products that had been expected to reach the market during the third quarter, just one was shipped and only in limited quantities. A company spokesman said it is likely that the others will be ready for release in the current quarter.