Cabletron reports $US22.5m loss

Cabletron reports $US22.5m loss

On Tuesday Cabletron Systems reported a first-quarter loss of $US22.5 million or 13 cents per share. The loss was greater than what the company reported last quarter, but down substantially from the loss posted a year ago.

The company's net loss in the fourth quarter of last fiscal year was $US12.7 million or 7 cents per share. A year ago, the networking company reported a loss of $US154.6 million or 95 cents per share.

For the latest quarter, ending May 31, the New Hampshire-based company had income of $US7.3 million or 4 cents per diluted share, up from the $US3.8 million in the fourth quarter. The company posted sales of $US349.5 million, down from the $US365.7 million it had in the year-ago quarter, but up slightly from $US345.1 million in sales last quarter.

Earlier this month, Cabletron announced that company co-founder Craig Benson was stepping down as chairman, president and chief executive officer -- the third change in top leadership in less than two years. He was succeeded by Piyush Patel, who was head of Yago Systems, a closely-held company acquired by Cabletron last year.

Follow Us

Join the newsletter!


Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.


Show Comments