1st-Quarter Profits Plunge for Kenfil Inc.

Kenfil Inc., a Van Nuys computer software distributor, said its fiscal first-quarter profit plunged 76% despite a 17% increase in sales primarily because several of its vendors changed the company’s purchasing terms.

In the three months ended Sept. 30, Kenfil had net income of $109,000, compared with $448,000 in the year-earlier quarter. Sales rose to $46.6 million from $39.9 million in 1992’s fiscal first quarter.

Kenfil also blamed its drop in net income on greater than expected expenses primarily related to opening a warehouse facility for its largest customer.