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Short Take: Newbridge reports slashed profits

Newbridge Networks reported first-quarter earnings that were virtually cut in half, posting net profits of $36 million or 14 cents a share, compared with profits of nearly $64.4 million or 26 cents a share posted a year ago. The company's revenues for the quarter fell to $426 million, down from $434 million reported a year ago.

Newbridge Networks reported first-quarter earnings that were virtually cut in half, posting net profits of $36 million or 14 cents a share, compared with profits of nearly $64.4 million or 26 cents a share posted a year ago. The company's revenues for the quarter fell to $426 million, down from $434 million reported a year ago.