Incomnet Reports $598,945 Quarterly Profit

Incomnet Inc., a Woodland Hills telecommunications company, reported a profit of $598,945 for the first quarter that ended March 31, rebounding from a loss of $1.1 million in the same period a year earlier. The profit was on a record first-quarter revenue of $7.89 million, an increase of more than sixfold from $1.21 million the previous year.

The company attributed the surge to a turnaround in National Telephone & Communications (NTC), a subsidiary it acquired two years ago. NTC buys excess capacity on fiber-optic cable lines in bulk from major telephone companies. It then sells the phone capacity at discount prices to customers through a network of independent sales people, most of whom work from home. This sales system, introduced during the last six months, has doubled the number of NTC customers to 100,000, the company said.