State of the Art Inc.: The Irvine...

State of the Art Inc.: The Irvine developer and distributor of accounting software reported net income of $1.3 million, or 11 cents a share, contrasted with a net loss of $855,000, or 7 cents a share, for the same period last year. Revenue rose 47% to a record $16.3 million from $11.1 million. Net income for the first three quarters doubled to $2.6 million, or 23 cents a share, from $1.3 million, or 11 cents a share, a year ago. Revenue increased 18% to $42.9 million, from $36.4 million.