Delphi Posts Profit of $33,000 in 3rd Quarter

Delphi Information Systems Inc. in Westlake Village said its fiscal third-quarter profit plunged 77% from a year earlier, to $33,000 from $145,000.

The lower earnings in the quarter that ended Dec. 31 came despite a doubling of Delphi’s revenue, to $12.3 million from $6 million a year earlier. The higher revenue largely reflected Delphi’s acquisition of two companies during 1991.

Delphi, which markets computer systems to insurance brokers and agents, said the lower profit reflected the weak economy and charges stemming from the acquisitions.

For the first nine months of its fiscal year, Delphi lost $745,000 contrasted with a year-earlier profit of $1.31 million. Its nine-month revenue rose 72%, to $30.5 million from $17.7 million.