Computer Automation Says 1st-Quarter Net Was Up 48%

Irvine-based Computer Automation Inc.’s net income for its fiscal 1988 first quarter rose 48%, to $426,000 from $288,000 reported a year earlier.

Results for the manufacturer of computers and automated test equipment included extraordinary items of $136,000 in the 1988 first quarter and $37,000 in the 1987 period.

First-quarter sales rose 5.6% to $5.6 million, from $5.3 million in 1986.

The company also reported a one-year extension, to Oct. 31, 1988, of its secured credit line with Sanwa Bank California. The agreement also increases the company’s credit line from $1.5 million to $3 million.