Net Income Drops for Research Engineers

Research Engineers Inc., an engineering software company, reported net income of $113,000, or 2 cents a share, for the second fiscal quarter, down 61% from $288,000, or 6 cents a share, for the prior-year period. Revenue for the quarter ended Sept. 30 increased 24% to $3.1 million from $2.5 million. Net income for the six months totaled $128,000, or 2 cents a share, compared with $428,000, or 9 cents a share, for the first half last year. Revenue gained 31% to $5.9 million from $4.5 million.

The company said operating expenses for the 1997 quarter rose about 45% from a year ago, due to increased research and development expenses and higher sales commission for overseas sales.