Incomnet’s Earnings Up 35% in 2nd Quarter

Incomnet Inc. of Westlake Village said it earned $139,237 in the second quarter that ended June 30, up 35% from $103,454 in net income a year earlier. Revenues rose 86% to $756,916 from $407,638.

The company, which runs a computerized auto parts trading network, said that in the six months ending in June earnings fell 39% to $189,926 from $311,060 in the same period in 1989. Revenues increased 89% to $1.54 million from $816,325.

The company said the decline in earnings in the six-month period was due to securities gains of $442,206 in 1989’s first half. Otherwise, it said, results improved because of growth in its computerized trading network and new software division.