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

State of the Art Inc.: The Irvine accounting software developer reported a profit of $2.4 million, or 27 cents a share, for 1993, down from $5.1 million, or 55 cents a share, for 1992. Revenue increased 30% to $28 million. For the fourth quarter, the company had a net loss of $1.5 million, or 17 cents a share, which included a onetime charge of $4.1 million from the write-off of certain capitalized development costs. Revenue increased to $8.6 million from $7.3 million.