Incomnet Boosts Quarterly Income to $1.44 Million

Incomnet Inc., a Woodland Hills-based reseller of discounted long-distance telephone service, reported record sales and a sharp increase in profit for the fourth quarter ending Dec. 31.

The company reported net income of $1.44 million for the quarter, compared to $316,488 a year earlier. Revenue in the fourth quarter rose to $16.1 million, more than triple the $5.07 million in sales reported in the same three-month period a year earlier.

For the year that ended Dec. 31, the company posted a profit of $11.3 million on sales of $46.8 million, compared to a year-earlier loss of $948,769 on sales of $4.07 million.

Incomnet attributed the improved results to surging sales of its long-distance service. The company purchases excess capacity from long-distance telephone carriers and sells the service to customers across the country. Incomnet also markets an ultraviolet curing technology for making eyeglass lenses.