SRS Labs Posts Record Revenue

SRS Labs Inc., a provider of 3D audio technology, reported third-quarter net income of $632,609, or 7 cents a share, contrasted with a net loss of $499,368, or 8 cents a share, a year ago. Revenue advanced to a record $1.5 million from $127,432. Net income for the nine-month period totaled $1.1 million, or 14 cents a share, contrasted with a net loss of $1.3 million, or 22 cents a share, for the corresponding period last year. Revenue rose to $3.6 million from $475,571. The company completed its initial public offering Aug. 8.