Com Systems Inc. Reports Net Loss in 1st Quarter
Com Systems Inc., a Van Nuys long-distance telecommunications company, reported a net loss of $942,000 in the first quarter that ended March 31, on a 59% increase in revenues to $27.9 million. A year ago, the company earned $801,000 on revenues of $17.5 million.
Rex Licklider, Com Systems chief executive, said the company is recovering from losses suffered because of the fraudulent use of its network by people outside the company. He said Com Systems has implemented controls to reduce the fraud and has cut costs.