State of the Art Posts 10% Income Gain

State of the Art Inc., an accounting-software developer, reported that net income for the second quarter increased 10%, to $1.1 million, or 12 cents per share, from $1 million, or 12 cents per share, for the second quarter of the previous year. Revenue increased 14%, to nearly $5 million from $4.4 million. First-half net income was $2.3 million, or 25 cents per share, 28% higher than the $1.8 million, or 22 cents per share, posted a year earlier. Revenue rose 20%, to $9.7 million from $8.1 million.