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Short Take: Fore Systems beats consensus estimates by a penny

Networking specialist Fore Systems beat estimates by a cent for its fiscal 1999 fourth quarter. The company posted earnings of $13.9 million, or 12 cents per share, on revenue of $177.7 million for the quarter. This compared with earnings of $13.5 million, or 13 cents a share, on revenue of $133.8 million for the same period a year ago. Including non-recurring charges related to a product phase-out, the asynchronous transfer mode, or ATM, specialist posted a loss of 37 cents per share, or $43.2 million.

Networking specialist Fore Systems beat estimates by a cent for its fiscal 1999 fourth quarter. The company posted earnings of $13.9 million, or 12 cents per share, on revenue of $177.7 million for the quarter. This compared with earnings of $13.5 million, or 13 cents a share, on revenue of $133.8 million for the same period a year ago. Including non-recurring charges related to a product phase-out, the asynchronous transfer mode, or ATM, specialist posted a loss of 37 cents per share, or $43.2 million.