Kenfil Inc., a Van Nuys computer software distributor, reported that its fiscal third-quarter earnings more than doubled from a year earlier on a 6% gain in revenue.
In the three months that ended March 31, Kenfil earned $815,000, compared with $339,000 in net income a year earlier. Its revenue totaled $47.4 million, up from $44.6 million.
Kenfil's nine-month profit doubled to $1.75 million from $860,000 a year before, while its revenue increased 7% to $137.2 million from $128.5 million.
The company completed its initial public stock offering in February, raising $17.5 million. Kenfil said its latest financial results benefited because part of the proceeds from the stock sale were used to reduce debt.
It also credited more efficient marketing and inventory programs.