Com Systems Reports $2 Million Profit in ’87

Com Systems, continuing its recent financial recovery, announced a 1987 profit of $2.02 million, or 41 cents a share, on revenue of $40 million.

The company, a Van Nuys-based provider of long-distance telephone services in California, Arizona and Nevada, compared the annual results with only the last nine months of 1986. That’s because the company changed its fiscal year to end on Dec. 31, instead of March 31, beginning Dec. 31, 1986. In the last nine months of 1986, Com Systems lost $2.15 million on revenue of $23.1 million.

Last month Com Systems sold a 41% stake in the company to Inspectorate International SA of Switzerland for $5 million. The proceeds are expected to help strengthen Com Systems’ balance sheet, which showed a negative net worth--or liabilities exceeding assets--of $4.44 million as of last Sept. 30.