ORANGE COUNTY BRIEFLY
Compiled by Don Lee, Times staff writer
State of the Art Inc.: The Irvine accounting software developer posted a profit of $2.88 million, or 27 cents a share, for 1994. That compared to earnings of $2.91 million, or 27 cents a share, for the previous 12 months. Annual revenue increased nearly 13% to a record $37.3 million from $33.1 million. For the fourth quarter, the company reported a profit of $977,000, or 9 cents a share, contrasted with a loss of $1.4 million, or 13 cents a share, for the same period a year earlier. Three-month revenue increased 15% to $12 million from $10.4 million.
