Rainbow Technologies Sees Quarterly Profit

Rainbow Technologies Inc., an Irvine provider of Internet and electronic commerce software, reported net income of $3.1 million, or 25 cents a share, for the fourth quarter. That contrasts with a net loss of $2.4 million, or 20 cents a share, for the year-earlier period, which included charges of $5.3 million related to asset impairments, investments, reorganization and a write-off.

Quarterly revenue rose 15% to a record $35.4 million.

Net income for the year climbed to $8.1 million, or 67 cents a share, from $2.5 million, or 21 cents a share, for the previous year. Revenue increased 11% to $121.1 million.