Autologic Information Notes Net Income Drop

Autologic Information International in Thousand Oaks announced net income of $710,000 or 12 cents a share for the third quarter ended July 31.

This compares with net income of $825,000 or 14 cents per share for the same period last year.

The loss from discontinued operations includes an operating loss of $128,000.

Dennis Doolittle, president and vice chairman, said he is pleased with the company’s continued improvement in operating performance. Although sales for the quarter were approximately the same level as last year, higher gross margins and cost-control efforts resulted in an 11% increase in pretax income from continuing operations for the quarter.

For the first nine months of the fiscal year, sales were up 4.2% over the previous year due to stronger domestic equipment sales; higher sales by Xitron, a subsidiary of Autologic; and increased sales of the company’s Laser Cinema Recorder.

In addition, year-to-date income from continuing operations before taxes is almost twice that of the previous year, the company’s order backlog remains strong and cash balances have increased, company officials said.

Autologic designs computer-based pre-press systems to the publishing industry.