PASW Reports 3rd-Quarter Net Income of $1.4 Million

PASW Inc. of Newbury Park, formerly Pacific Softworks Inc., reported net income of $1.4 million, or 30 cents per share, for the third quarter that ended Sept. 30, contrasted with a loss a year earlier of $872,405, or 10 cents per share.

During the quarter, PASW sold the assets of its PSI Softworks Technology subsidiary to NETsilicon Inc. The assets primarily consisted of PSI’s Internet and Web software. The purchase price for the assets was 90,000 shares of NETsilicon’s common stock.

William Sliney, chairman of PASW, said the sale of the company’s technology to NETsilicon will allow PASW to concentrate on its Alera Systems Inc. subsidiary.