Incomnet Reports Loss Despite Revenue Surge

Incomnet Inc. said it lost $1.44 million in the fourth quarter of 1992, compared with a loss of $464,309 a year earlier.

The Woodland Hills-based company operates a communications network for the auto parts industry, and last year it bought a majority stake in National Telephone & Telecommunications Inc. (NTC), a Newport Beach-based carrier of long-distance communications services.

Incomnet said its latest loss mainly reflected NTC’s previous operations, which Incomnet is overhauling. The loss in the quarter ended Dec. 31 came despite a surge in Incomnet’s revenue, to $2.31 million from $484,037 a year earlier.

For all of 1992, Incomnet lost $1.92 million, compared with net income of $1,322 the prior year, and its annual revenue jumped to $5.73 million from $1.9 million.