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Natural MicroSystems tops estimates

Natural MicroSystems Corp. (Nasdaq: NMSS) said Thursday that third quarter income was 15 cents a share, well above First Call's expected profit of 8 cents a share, and above last year's third quarter earnings of 11 cents a share.

Shares in the communication technology maker closed up 0.38 to 52.38 Wednesday.

Revenue for the third quarter was $40.54 million, almost double the $20.28 million for the corresponding quarter in 1999. Pro forma net income, which excludes the effects of acquisition-related and purchased intangibles, amortization charges and other non-recurring items, was $5.81 million, versus a net loss of $2.59 million reported for the third quarter of 1999.

During the third quarter of 2000, Natural MicroSystems completed the acquisition of InnoMediaLogic, Inc. for a total purchase price, including assumed liabilities, of approximately $189.6 million and took one-time charges of $3.3 million, or about 9 cents per share on an after-tax basis, as write-offs of purchased in-process R&D.

Natural MicroSystems generated $7.2 million in cash flow from operations and invested $2.8 million in capital expenditures during the quarter.