Tech Industry

Network Associates beats Street

The company, along with Xircom, beats Wall Street's earnings estimates.

Network Associates beat Wall Street's estimates for its second-quarter earnings today.

The company said it posted pro-forma profits of 41 cents per share for the quarter, compared with 25 cents per share posted for the like quarter a year ago. Including charges associated with acquisitions, the second-quarter net loss was $101.2 million or 87 cents a share, compared with a profit of $28.8 million or 25 cents a share posted for the same quarter a year earlier.

According to a consensus of analysts by First Call, Network Associates had been expected to earn 39 cents per share.

The company's revenue for its second quarter rose to $212.5 million from $152.8 million.

"We are extremely pleased with our results for the second quarter," Network Associates chief executive Bill Larson said in a statement.

In other earnings news, Xircom also beat analysts results, for its fiscal third quarter ended June 30. The company posted income from continuing operations of $4.7 million or 20 cents a share, compared with $400,000 or 2 cents a share, reported for the like period a year ago.

According to First Call, Xircom had been expected to earn 17 cents per share for the quarter.

Xircom's net income was $4.7 million or 20 cents a share, compared with a loss of $5.8 million or 25 cents a share for the like quarter last year. The company posted quarterly sales of $71.3 million for the quarter, up from $50.2 million a year earlier.