Advantage Life Reports Higher 2nd Quarter Net

Advantage Life Products Inc., the Laguna Hills supplier of stop-smoking products, reported net income of $846,000 for its fiscal year ended April 30.

The results included an extraordinary loss of $298,000 related to a bankruptcy filing of a major customer, Ames Department Stores, and a loss of $156,000 from discontinued operations.

The company last year posted net income of $685,000. Revenue totaled $11.1 million, up 88% from the $5.9 million reported for fiscal 1989.

For the fourth quarter, Advantage Life lost $79,000, including extraordinary items, contrasted with net income of $323,000 for the year-earlier quarter. Revenue rose 38% to $2.9 million from $2.1 million.