Objective Systems' leaders hope to stanch red ink.(Objective Systems Integrators Inc.)

After putting an end to a consistent string of money losses by turning in a profitable final quarter of fiscal 1998, Objective Systems Integrators Inc. thought it had turned the corner.

Its recent third-quarter loss of $33.5 million tells the company otherwise.

Despite the ugly showing, founders and co-CEOs Dick Vento and Tom Johnson are optimistic about the the Folsom-based company's prospects for a recovery.

"The products we need to execute our strategy are in place and the people we need are in place," said Vento, who sees upcoming opportunities to sell its phone system management software to newly started fiber-based phone companies, wireless phone vendors, and to companies converging voice, …