SyQuest, Data General report
SyQuest reports a drop in fourth-quarter revenues and a widening loss, while Data General reports a 21 percent jump in its fourth-quarter revenues.
Storage maker SyQuest, citing price-cutting on older products to make way for a rollout of new devices, posted revenues of $25.9 million, compared with $44.8 million a year ago and $31.7 million in the previous quarter.
The company's net loss reached $17.5 million, or 54 cents a share, compared with a loss of $10.4 million, or $1.29 a share, a year ago. For the previous quarter, SyQuest posted a loss of $10.7 million, or 80 cents a share.
SyQuest plans to unveil its new product line during the Comdex/Fall '97 on November 17.
SyQuest's revenues for the year fell to $122.7 million, down from $200.4 million during the previous year. Net loss for the year reached $68.7 million, or $3.34 a share, compared with a loss of $136.7 million, or $12.38 a share, a year ago.
Data General (DGN) today reported a 21 percent jump in fourth-quarter revenues and improved quarterly profits, in part driven by sales of its AViiON servers and CLARiiON storage products.
Data General posted revenues of $404.1 million for the quarter, compared with $336.2 million a year ago. The company's net profits rose to $17 million, or 35 cents a share, for the quarter, compared with $9.9 million, or 24 cents, a year ago.
During the fiscal year, Data General reported record annual revenues of $1.53 billion, compared with $1.32 billion the previous year. Net profits reached $55.9 million, or $1.26 a share, for the year, up from $28.1 million, or 68 cents a share, a year ago.