Short Take: Hayes reports loss due to merger charges

Modem maker Hayes reported fourth-quarter revenues of $52.9 million, vs. $56 million reported in the fourth quarter of 1996. Net loss was $66.6 million, or $2.71 per share, which includes one-time restructuring and merger charges of $63.4 million, or $2.58 per share, compared with a loss of $3.5 million, or 15 cents per share, a year ago. The charges were related to its merger with Access Beyond.

Feb. 20, 1998 10:20 a.m. PT

Modem maker reported fourth-quarter revenues of $52.9 million, vs. $56 million reported in the fourth quarter of 1996. Net loss was $66.6 million, or $2.71 per share, which includes one-time restructuring and merger charges of $63.4 million, or $2.58 per share, compared with a loss of $3.5 million, or 15 cents per share, a year ago. The charges were related to its merger with Access Beyond.