A slew of technology companies reported results for their latest quarters after the markets closed yesterday.
The net loss for the third quarter ending September 30 was $7.2 million, or 72 cents per share, compared with a loss of $10.1 million or $1.44 per share for the third quarter of 1996.
Revenue was $20.6 million, a 106 percent increase over the revenue of $10 million reported in the third quarter of 1996.
These results come after EarthLink's recent announcement of a successfully completed private placement of $15.5 million.
The company reported a net income of $3 million, or 13 cents a share, compared to a net income of $9.5 million, or 42 cents per share.
Revenue dropped to $36 million from revenue of $44.5 million in the quarter that ended a year ago.
Research and development expenses increased to $7.3 million from $4.5 million in the year ago quarter and were flat with the quarter ending June 30. The $2.8 million increase was primarily attributable to increases in personnel, depreciation and higher non-recurring engineering charges.
The supplier of highly integrated semiconductor and software solutions said it has in excess of 25 employees in two development programs and expects research and development expenses to increase in the December quarter primarily as a result of those projects.
Chips expects to use its existing technologies to take advantage of the potential emergence of flat panel monitors for desktop computers and is also investing in Broadband media opportunities other than the personal computer.
Net loss for the quarter was $64.6 million, or 86 cents a share, compared to net income of $10.5 million, or 12 cents a share, a year earlier.
Revenue for the quarter was $75 million, compared to revenue of $66 million a year earlier.
Net income for the quarter was $12 million, or 32 cents per share, compared with $3.7 million, or 10 cents per share in the same quarter in 1996.
Revenue for the quarter was $22.4 million, compared with $8 million for the same period in 1996, due to strong demand for FireWall-1 Version 3.0, said the company.
The company also saw high demand for encryption products to create virtual private networks that use the Internet to conduct secure business communications, experiencing a significant increase in the sales of encryption products in the first half of 1997 over fiscal 1996.
Net income for the third quarter was $44 million, or 31 cents per share, compared to net income of $28 million, or 21 cents per share, in the same quarter last year, including costs associated with the acquisition of Mint Technology. Excluding the charges, the company would have reported a net income of $47 million, or 33 cents a share.