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

State of the Art Inc.: The Irvine accounting software developer reported a net loss of $855,000, or 7 cents a share, for the third quarter, contrasted with net income of $1.3 million, or 12 cents a share, for the 1995 third quarter. Revenue declined 9% to $11.1 million from $12.2 million. Net income for the nine-month period was $1.3 million, or 11 cents a share, 65% lower than the $3.7 million, or 33 cents a share, for the corresponding three quarters last year. Revenue increased 12% to $36.4 million from $32.4 million.