Commodore in Black; Net Hits $1.2 Million

Commodore International, struggling to revive its microcomputer business, said it posted a profit of $1.2 million in its latest quarter, its first quarterly earnings since 1984.

Commodore’s slim profit in its fourth quarter ended June 30 compared to a loss of $124 million in the year-earlier quarter. Net sales rose 58% to $209 million. For its full fiscal year, Commodore reported a loss of $127.9 million, bigger than the previous year’s loss of $113.9 million. Revenue rose less than 1% to $889.3 million from $883.1 million a year earlier.

Commodore, based in West Chester, Pa., makes microcomputers such as the C64 and Amiga, which run on a standard different from the one set by International Business Machines Corp.’s PC.

Commodore has cut staff by 1,500, or about one-third, in the last six months in a cost-cutting drive, Thomas Rattigan, president and chief executive, said in a statement.

Rattigan said new products were also a big help for the company’s bottom line. Five computer products launched in the last 15 months, including the Amiga, made up two-thirds of the company’s revenue in the latest quarter, he said.

Irving Gould, Commodore’s chairman, said the company is continuing to negotiate with its major lenders and, although some issues remain unresolved, it expects to continue discussions. However, he said, until a new agreement is completed, the company’s long-term bank debt and debentures will continue to be listed on the books as current debt.

Gould said that for the 1986 fiscal year, Commodore will receive a qualified opinion from its auditors.