MICOM Reports Reduced Earnings in Third Quarter

MICOM Communications Corp., a Simi Valley developer of low-cost networking products, said its earnings for the third quarter that ended Dec. 31 were $1.3 million, down 8% from $1.4 million in the same quarter of 1993. Revenues for the quarter were down 3% to $20.3 million from $21 million the previous year.

For the first nine months, earnings were $5.6 million, up 51% from $3.7 million in the same period a year earlier. Revenues were $66.8 million in the first nine months, up 13% from $59.1 million a year prior.

The company said its quarterly results were dampened because some of its distributors bought fewer products in order to lower their inventories.