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Earnings up in latest round of reports

The latest batch of technology companies posted earnings reports in various shades of red and black.

The latest batch of technology companies posted earnings reports in various shades of red and black.

Driven by strong PC shipments, Gateway 2000 posted revenues of $1.14 billion for the first quarter, a 47 percent increase from first-quarter 1995 revenues of $776 million. Earnings for the first quarter of this year were $50.5 million, or $0.65 per share, up 33 percent from the same quarter last year.

Silicon Graphics reported revenues totaling $677 million, a 17 percent increase over the same quarter the previous year. Net income for the quarter was $54 million, compared to $68 million the previous year, and earnings per share were $.31 versus $.38 for the same quarter the previous year.

Bolstered by distribution deals with Netscape Communications and America Online, Excite, which went public earlier this month, announced $1.1 million in revenues for the last quarter, a 521 percent increase over the previous quarter's revenues of $184,000. Losses for the first quarter were $3.7 million, or $.35 per share, compared with $2.0 million, or $.19 per share, for the previous quarter.

PSINet posted $17.8 million in revenues for the quarter, compared to $5.89 million for the first quarter of 1995. The company cuts its first-quarter losses from $3.22 million, or $.12 per share, in 1995 to $14.89 million, or $.39 per share, in 1996.

Netcom boosted its revenues for the first quarter by 221 percent over the first quarter 1995, from $7.49 million last year to $24.1 million this year. It reported a loss of $6.6 million, or $.59 per share, this quarter, compared to a loss of $1.3 million, or $.19 per share, in the first quarter of last year.