Asante Technologies, the San Jose, California-based LAN networking provider, has failed to keep pace with the market and as a result, revenues have plummeted by 33.7% to $11.6m in its first quarter with net losses of $4.4m. Wilson Wong, chairman, president and CEO, says that softer sales of our older products to our major distributors primarily contributed to this revenue shortfall. Asante plans to halt the slide by reducing operating costs, cutting its workforce by 20% over the next few quarters and shifting its manufacturing plants off-shore. Wong hopes that this will build on large volume sales of its newer products through the top three US retailers, CompUSA, Fry’s and MicroCenter. It will also introduce several new product lines, including plug-and-play Gigabit switches and new network adapter cards.
