J2 Communications, parent of National Lampoon Inc., posted a narrower net loss for its fiscal 1992, ended July 31. The video distributor and film producer recorded a net loss of $ 1.2 million (37 cents a share), vs.

$ 2.73 million (95 cents) for the previous fiscal year. Revenues dropped by 26% to $ 4.5 million, from $ 6 million in the comparable period. According to J2 CEO James Jimirro, the company’s performance was in line with its business plan.

Falcon Cable Systems Co., a limited partnership, posted a wider net loss of $ 2.8 million (43 cents a share) for the third quarter ended Sept. 30. The cable company reported a $ 2.5 million (39 cents) net loss in the same period last year. Revenues were up 9.8% to $ 12.7 million, from the comparable quarter. Cash flow, or operating income before depreciation and amortization, grew 4.7% to $ 6 .4 million.

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