ILC, the developer of the communications network control software MaxView, Tuesday reported increased revenues of almost $3 million and net income of more than $1 million.

For the three months ended June 30, ILC’s revenues were $2.95 million, versus $1.33 million for the same period in 2002. That is an increase of $1.62 million or 122 percent.

ILC also reported net income of $1.2 million for the three months ended June 30.

First half revenue for ILC was $4.75 million and net income of $1.31 million.

The increase is due to an overall growth in new and repeat business over the last year, the company says, adding that current indications are that the strong trend will continue, as new bookings for first and second quarters 2003 surpassed internal plans.

“Our financial success has exceeded our goals,” said Richard Graham, president and chief executive officer of ILC. “Our increased penetration of government, telecommunications and broadcast markets has produced marked increases in revenues and fueled our doubling in size in the last two years.”

Graham notes that ILC has grown continuously throughout its 10-year history with only one downturn year.

“As a result, we expect that this success will progress long into the future and only accelerate with a rebounding economy,” he says. “ILC is unusual in its ability to internally fund its rapid growth and still turn a significant profit. We can thank our excellent staff for that.”

Headquartered in Atlanta, ILC develops network control software for commercial and government applications in the telecommunications, satellite and broadcast industries.

Specializing in hybrid networks, ILC’s MaxView Suite automates fault management; configures, schedules and allocates network resources; and provisions circuits for more than 400 clients, including NBC, France Telecom, Echostar and the U.S. Department of Defense.

ILC: www.ilc.com