Lotus Development Corp.’s 1988 profit fell 18%...

Lotus Development Corp.’s 1988 profit fell 18% from 1987 to $58.9 million. Revenue totaled $468.5 million, up 18%. For the fourth quarter, income for the Cambridge, Mass.-based software applications developer fell to 61% to $9 million, and revenue slipped 3% to $112.4 million. The company said earnings for the quarter were affected by sales and marketing programs for spreadsheets as well as research and development spending.