Incomnet Posts Record Quarterly Sales, Earnings

Incomnet Inc., a Woodland Hills telecommunications company, reported its fourth consecutive quarter of record sales and earnings in the third quarter that ended Sept. 30.

The company posted profit of $1.06 million in the third quarter, compared with a year-earlier loss of $68,118. Revenues surged to $12.8 million from $2.7 million in the third quarter of 1993. The company said it gained more revenue in the third quarter than in all of last year.

For the first nine months of the year, Incomnet reported net income of $2.63 million on sales of $30.7 million, compared with a year-earlier loss of $1.27 million on sales of $6.23 million.

The company attributed the improved results to continued sales growth in its National Telephone & Communications Inc. unit, a subsidiary that buys excess capacity on fiber-optic cable lines from major telephone companies, then sells it at discount prices through a network of independent salespeople.

Incomnet said its National Telephone unit has seen a dramatic expansion of its customer base.