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Cabletron beats 3Q forecasts

    Cabletron Systems (NYSE:CS) topped analyst forecasts by a penny in the third quarter.

    After market close Wednesday, the holding company for network technology firms reporte fiscal third quarter net income of $6.9 million, or 4 cents per share, excluding special charges. First Call's survey of 13 analysts predicted a profit of 3 cents per share.

    Third quarter revenue rose 10.1 percent sequentially to $265.3 million from $241.1 million in the second quarter.

    The bulk of Cabletron's revenue came from the Enterasys Network unit, which boosted revenues 8 percent sequentially to $205.8 million. Cabletron's Riverstone Networks subsidiary, which makes reouters and switches for metro service providers, saw the fastest growth, 30 percent to $26.8 million.

    Including amortization and other charges, Cabletron in the third quarter lost $35.5 million, or 19 cents per share.>