Incomnet’s Revenues More Than Double

Incomnet Inc., a long-distance telephone time reseller based in Woodland Hills, said it more than doubled its earnings and revenues during the first quarter that ended March 31.

The company reported quarterly net income of $1.4 million, up from $598,945 a year earlier. Revenue in the first quarter rose to $18.9 million, from $7.9 million during the year-earlier period.

Incomnet’s improved performance for the quarter came despite the company’s confirmation in January that it was under investigation by the Securities and Exchange Commission, a revelation that caused its stock price to drop.