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.