CARDINAL INDUSTRIES <CDNI> RESTATES NET LOWER Cardinal Industries Inc said it restated earnings for the first nine months of 1986 to 235,000 dlrs, or nine cts per share, from 485,000 dlrs, or 18 cts, reported previously due to the failure of an automated accounting system installed in mid-year and replaced in the fourth quarter. The company said its Reliance segment sustained a significant operating loss for the full year 1986 due to the accounting problems and increased promotional and advertising expenses. For the full year, it said it earned 284,000 dlrs, or 10 cts a share, up from 271,000 dlrs, or 10 cts, in 1985. Cardinal Industries said revenues for the year were 30.7 mln dlrs, up from 23.0 mln dlrs in 1985. The company said for the first quarter of 1987, earnings were about 48,000 dlrs, up from 13,000 dlrs or nil per share in the year ago period. The year-ago first quarter earnings, however, have been restated from 101,000 dlrs or four cts per share. It said sales for the first quarter were about 8,363,000 dlrs, up from 6,636,000 dlrs. For the first half of 1986, the company said it restated earnings to 141,000 dlrs or five cts per share from 340,000 dlrs or 12 cts per share reported previously.