Incomnet Reports Income of $33,000 in 3rd Quarter

Incomnet reported net income of $33,000 for the third quarter that ended Sept. 30, compared to a loss of $454,000 in the same period a year earlier.

Incomnet is based in Westlake Village and makes equipment that allows computer users to send messages to each other from their terminals. The third-quarter results mark Incomnet’s first profitable quarter after seven years of losses that totaled more than $16 million.

Sales for the period were up 133% to $729,000 compared to $318,000 a year before.

President Sam Schwartz attributed the improved results to new subscribers of its computer messaging system, as well as to orders for its message-switching equipment.

For the nine months that ended Sept. 30, the company lost $277,000 compared to $1.5 million in the same period a year earlier. Sales increased 35% to $1.4 million from $1 million a year ago.