Gateway Communications reported net income of $514,058...

Gateway Communications reported net income of $514,058 for 1987, a 66% drop from last year’s net income of $1.5 million. Revenues rose 9%, to $12.9 million from $11.9 million for 1986. The company said that heavy research and development costs for new products affected 1987 net income. Fourth-quarter figures were not available. Gateway Communications, based in Irvine, is a supplier of networking and communications products for the IBM PC market.