Distributed Logic Cites Slump as Net Income Falls

Distributed Logic Corp. said net income for its fiscal year ended Oct. 31 fell 63% to $551,152 from net income of $1.5 million for the previous fiscal year.

The Anaheim-based company attributed the decline to “the severe nationwide recession in the computer industry.”

Revenues for the year were $13.7 million, down 23.5% from $17.9 million for the year earlier.

In the fiscal fourth quarter, a tax credit of $140,000 boosted net income to $335,453, off 28% from net income of $464,954 for the same period a year earlier. Revenue for the quarter totalled $3.2 million, down 34.7% from $4.9 million for the same period last year.

Glenn Salley, president and chief executive, said the company expects to remain profitable and “is encouraged by indications that current trends point to a resumption of growth in the 1986 fiscal year.”