Tech Industry

Banyan has first profitable year since '94

Network software and services company Banyan Systems wrapped up its fiscal 1998 today by beating analyst estimates by one cent for its fourth quarter. The company posted profits of $830,000, or 4 cents a share, on revenue of $20.5 million for its fourth quarter. Banyan, which has been beset by slow sales in recent years, had its first profitable year since 1994, excluding one-time charges.

Network software and services company Banyan Systems wrapped up its fiscal 1998 today by beating analyst estimates by one cent for its fourth quarter. The company posted profits of $830,000, or 4 cents a share, on revenue of $20.5 million for its fourth quarter. Banyan, which has been beset by slow sales in recent years, had its first profitable year since 1994, excluding one-time charges.