Xircom (Nasdaq: XIRC) edged past analyst forecasts in the third quarter.
After market close Monday, the maker of networking cards and other access products reported fiscal third quarter net income of $14.8 million, or 47 cents per share, excluding special charges. First Call's survey of six analysts predicted a profit of 46 cents per share.
Including a one-time charge of $19.5 million to write off R&D from the acquired Omnipoint Technologies, and other expenses related to goodwill writedowns, Xircom lost $5.1 million, or 17 cents per share.
Shares of Xircom fell slightly to 48 3/16 in afterhours activity on the Island electronic communications network, following the earnings release. The stock closed Monday's regular trading at 49, up 1/2 for the session.
Third quarter revenue increased to $126.7 million, up 17 percent from $108.4 million the same period a year earlier. Business from large business customers helped drive Xircom's revenue improvement, said Dirk Gates, chairman, CEO and president.>