MAI Systems’ Income Soars After Units Sold, Distribution Change

MAI Systems Corp., an information systems and computer products company, said net income in the second quarter totaled $2.7 million, or 42 cents a share, compared with $1 million, or 17 cents a share, for the like period last year. Revenue was down 7% to $15.6 million from $16.8 million. The company earned $5.5 million, or 87 cents a share, for the first half, compared with $1.4 million, or 24 cents a share, for the corresponding six months of 1994. Revenue declined 4% to $32.8 million from $34 million.

Earlier this year, the company sold its Asian and Costa Rican subsidiaries and discontinued the direct sales of its process manufacturing solutions business in favor of an exclusive worldwide distributor. Those operations contributed revenue of $2.3 million during the second quarter and $3.8 million during the first half of 1994.