Incomnet Narrows Loss in 4th Quarter to $505,000

Incomnet reported that it lost $505,000 in its fourth quarter, compared to a loss of $1.8 million in the year-earlier period. The troubled Westlake Village computer company reported its revenue fell 20% to $392,000 from $490,000 the same period a year before.

Anil Sharda, vice-president of finance, attributed the reduction in losses in part to a new cost-cutting program. For the fiscal year ended Dec. 31, Incomnet reported a loss of $1.9 million, compared to a loss of $3.9 million for fiscal 1986. Revenue for fiscal 1987 was $1.6 million compared to $2.9 million the year before.