I/O Magic Trims Losses

IRVINE —  I/O Magic Corp., a developer of multimedia and communications products, narrowed its losses in the second quarter on record revenue. The company posted a net loss of $24,100, compared with a net loss of $127,800 a year ago. Revenue rose to $1.2 million from $117,800. For the first half, the company lost $220,200, compared with a loss of $245,600 for the same period in 1995. Revenue rose to $1.4 million from $182,500.