Applied Data Stock Shoots Up 45% With Report of Profitable Quarter

Applied Data Communications stock shot up 45% Monday, evidently because of news that the Tustin computer products company had reported its first quarterly profit in more than two years.

Applied Data earned $337,000 for its fiscal 1989 first quarter ended June 30, contrasted with a loss of $370,000 for the period a year earlier.

Sales rose 65% to $2.9 million from $1.8 million a year ago.

Applied Data’s stock, traded over the counter, was the leading percentage gainer on the National Assn. of Securities Dealers’ computerized trading system Monday, closing at $2 per share, up 62.5 cents.

Pat Kane, Applied Data president, attributed the improved earnings to generally favorable conditions in the personal computer industry. He also said the company has improved manufacturing efficiency at its Tustin plant since its September, 1987, acquisition of Dateline Technology, a Redmond, Wash., manufacturer of data storage devices.

ADC manufactures computer data storage duplication and testing equipment.