Bay reports net loss for third quarter

Bay reports net loss for third quarter

Bay Networks last week reported a third-quarter net loss of $US144.2 million, including a charge of $US154 million related to two recent acquisitions.

Revenue was $US547.2 million, an increase of 6.7 per cent from a year ago, and gross profit was $US256.27 million from $US252.6 million a year ago, according to a company statement in which Dave House, chairman, president and chief operating officer, said that Bay is disappointed with the quarterly results.

Weak demand, seasonal fluctuations and customers taking longer to make decisions about which products to buy affected Bay's quarterly results, House said in the statement.

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