Earnings roundup
Network Associates, Citrix, and Qualcomm all post stronger quarterly revenues and capture a rise in profits.
Network Associates revenue up
Network Associates (NETA), a supplier of enterprise network security and management software, reported revenue of $173.3 million, an increase of 39 percent over revenues of $124.7 million reported for the same period a year ago. Year-ago figures were restated for the acquisition of Network General, which was accounted for in the quarter as a pooling of interests.
The company's net income, excluding the Network General acquisition and non-recurring charges, increased in the fourth quarter by 26 percent, to $36.1 million, or 49 cents per share, up from $28.6 million, or 39 cents per share, reported in the fourth quarter of 1996. Including charges, net loss for the quarter was $80.9 million, or $1.16 per share, compared with net income of $28.6 million.
Client/server software boosts
Citrix
Citrix Systems posted revenues of $43 million for its fiscal fourth quarter, up 176 percent from $15.6 million reported in the comparable period of last year. The company attributed the growth to acceleration of the thin-client/server computing market and customer demand for its WinFrame thin-client /server software. The introduction of the company's Load Balancing and Secure ICA option packs also contributed.
Net income, excluding a one-time charge, was $15 million, or 50 cents per share, compared with net income of $6.9 million, or 24 cents per share, a year ago.
In October, Citrix completed the acquisition of DataPac Australasia and recognized a previously announced, one-time, pre-tax charge of $4 million, or 8 cents per share, that resulted from the purchase of in-process research and development. The company's net income, including the charge, was $12.5 million, or 42 cents per share.
Citrix also announced today the promotion of Mark Templeton to the position of president. Roger Roberts will continue in the role of CEO.
Communication products push Qualcomm's
revenue
Qualcomm (QCOM) reported fiscal first-quarter results with revenues of $786 million, more than doubling revenues of $389 million for the year-ago quarter and marking a 31 percent increase over last quarter.
The company said communications systems revenues more than doubled during the quarter, to $677 million. The increase was driven by the continued growth in demand for Code Division Multiple Access (CDMA) phones, Application Specific Integrated Circuits (ASICs), and infrastructure equipment. The company said it shipped a record number of CDMA phones and chip sets during the quarter.
Net income for the first quarter was $37 million, compared with $9 million reported for the same period in fiscal 1997. Earnings per share for the quarter was 50 cents per share, compared with 13 cents per share in the same period last year.
Before one-time items, the company's earning per share was 58 cents. Non-recurring items included the write-off of in-process research and development acquired in the purchase of assets from Now Software and the write-down of obsolete leased equipment. These one-time items were partially offset by a gain on the sale of an investment.