Trading in Wiz Technology Resumes After Income Report

Trading in Wiz Technology Inc. shares resumed Thursday on the American Stock Exchange after the company released third-quarter financial results that had been delayed because of a dispute over accounting issues.

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The company reported net income of $33,279, or 1 cent a share, in the third quarter ended April 30, compared to a loss of $117,289, or 2 cents a share, in the same period a year ago. Revenue rose to $600,000 from $294,000.

In the nine months, Wiz Technology lost $419,000, or 5 cents a share, compared to a loss of $854,000, or 12 cents a share, in the same period a year ago. Revenue rose to $2.1 million from $1.3 million. The stock closed Thursday at $3.06 a share, up 19 cents, in the first day of trading since June 21.

Trading had been halted after a disagreement between the San Juan Capistrano software marketer and its independent accountants over how to capitalize expenses for a new CD-ROM package, the first product developed internally by the 4-year-old company.

The issue was resolved after Amex officials asked their own accounting firm, Arthur Andersen & Co., to conduct an audit. “We feel completely vindicated,” said Mar-Jeanne Tendler, the company’s chairman and chief executive.

The company, which markets education, business and game software, announced last Friday that it had retained Coopers and Lybrand’s Newport Beach office to replace Irvine-based Corbin and Wertz, which resigned last week. Coopers and Lybrand said it will audit the company’s financial results for the full fiscal year ending July 31.