Newbridge Networks Corp shares have been a lusty market of late, but they still stormed to new highs after the company posted even better-than-expected fiscal fourth quarter earnings (figures, page seven), and analysts revised their estimaets upwards: the shares rose $3.125 to $72.75 on NASDAQ exchange as the company said that order intake exceeded shipments in the period, boosting backlog for the eighthconsecutive quarter Fiscal year 1993 was successful for Newbridge from both a financial and technological perspective, chairman Terry Matthews said, noting that telephone companies represent an increasing proportion of its sales and service revenues; Business activity was particularly strong in the Asia-Pacific area and with US corporate network customers, it said, adding that cash and short term investments stood at $155m at the end of fiscal 1993; inventory turnover improved during the fourth quarter and is six times per year.
