Education-Software Firm Lists Profit in Turnaround

United Education & Software, benefiting from its decision last year to discontinue money-losing operations, reported net income of $183,000, or 10 cents a share, in the second quarter ended July 30.

The figure contrasts with a loss of $800,000 a year earlier. United Education’s second-quarter revenue increased 9% in the quarter, to $5.1 million.

The Encino-based company, which operates career schools and sells computer equipment and software, said its decision to scrap the national sales force for its computer hardware and software business was the main reason for the turnaround. The company also enjoyed $82,000 in tax benefits in the quarter from tax-loss carry forwards, which allowed it to deduct last year’s losses from taxable income.

For the six months ended July 30, United Education earned $267,000, or 14 cents a share, contrasted with a loss of $979,000 in the year-earlier period. Revenue in the six months increased 9% to $10.5 million.