Griffith Consumers Co., a Cheverly-based petroleum distributor, reported that it lost $1.45 million in the quarter ended Sept. 30.
The company blamed the loss on the effects of the Persian Gulf crisis, which increased what it pays for petroleum, and on lower demand. It also said its results were worsened by increased costs related to its acquisition late last year of Hessick Inc., a Washington heating-oil distributor.
Because most heating oil is sold in the winter, the July-September fiscal first quarter is historically weak. In last year's first quarter, Griffith lost $981,000. Revenue in the most recent quarter was $22.91 million, compared with $21.57 million a year earlier.
C3 Inc., a Herndon-based systems integrator, said that because of a recent recapitalization its net income in the quarter ended Sept. 30 was $22.38 million despite an operating loss.
That compares with a $5 million loss in the same quarter last year. Revenue in the quarter, the second of its fiscal year, was $20.38 million, up 63 percent from $12.51 million in the same quarter last year. The company had an operating loss of $1.74 million, compared with a loss of $3.13 million last year.
The recapitalization, completed during the quarter, resulted in an extraordinary gain of $23.1 million.
The company said its revenue for systems sales was up, but that was offset by declining maintenance-contract revenue.
Sage Software Inc. of Rockville said its net income in the quarter ended Oct. 31 rose 35 percent to $896,000 from $665,000 in the same quarter last year. On a per-share basis, that's 14 cents compared with 11 cents.
In the quarter, the second of its fiscal year, revenue was $7.54 million, compared with $6.11 million a year earlier.
President Kevin J. Burns said the increases came because of strong demand for its products in North America. The company makes software development tools for users of big International Business Machines Corp. computers.
Iverson Technology Corp., a McLean computer systems integrator, lost $288,343 in the third quarter, largely because it wrote off potentially obsolete equipment in its inventory.
That compares with a profit of $598,679 in the same quarter last year. Revenue for the quarter ended Sept. 30 was $17.75 million, down 4 percent from $18.46 million a year earlier.
Iverson said it made a $900,000 provision for potentially obsolete equipment because its personal computer inventory was aging and because it is trying to shift away from defense-oriented work to commercial customers. The company said it was continuing to evaluate its inventory and might write off more later.
Penril Corp. of Gaithersburg, which makes data communications equipment, said its profit rose 47 percent in its fiscal first quarter ended Oct. 31.
Net income was $1.18 million (24 cents a share), compared with $803,000 (17 cents) in the same quarter a year earlier. Revenue was $12.45 million, compared with $10.35 million a year earlier.
Chairman Henry Epstein said the quarter's results were boosted by sales of a new product called VLAN, a terminal server and gateway.
Comnet Corp. of Greenbelt reported that profit in the company's second quarter ended Sept. 30 almost doubled.
Net income in the quarter was up 81 percent to $272,000 (10 cents a share) from $150,000 (6 cents) in the same quarter last year. Revenue rose to $6.18 million from $5.45 million a year earlier.
Comnet said that much of the strength was due to increased profits at Group 1 Software Inc., a Greenbelt company of which Comnet owns 83 percent. Group 1 sells software to direct-mail marketers.