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  1. Technology
October 30, 1995

COMPANY RESULTS

By CBR Staff Writer

Adaptive Solutions Inc has reported third quarter net losses of $296,000 down from a loss last time of $876,000 on turnover up 168.5% at $4.3m; nine-month net losses were $3.6m down from a loss last time of $3.7m on turnover up 112.2% at $6.1m. Automatic Data Processing Inc saw first quarter net profits up 19.2% at $81.9m on turnover up 20.1% to $747.1m. Net per share was up 16.3% to $0.57.

Avid Technology Inc saw third quarter net profits up 97.7% at $8.8m on turnover up 86.4% at $114.3m; nine-month net rose 23.8% at $13.9m turnover up 87.5% at $296.7m. Net per share rose 72% to $0.43 in the quarter, 12.7% to $0.71 in the nine months.

BancTec Inc has reported second quarter net profits up 4.2% at $4.2m on turnover up 7.2% at $78.5m; mid-term net rose 3.8% to $8.1m on turnover up 6.3% at $151.7m. Net earnings per share rose 5.6% to $0.38 in the quarter, 5.8% to $0.73 in the half.

Business Objects Inc saw third quarter net profits up 288.9% at $2.0m on turnover up 102.3% at $15.3m; nine-month net rose 334.8% to $4.7m on turnover up 106.7% at $40.9m. Net per share rose 200% to $0.12 in the quarter, 250% to $0.28 in the nine months.

Convex Computer Corp has reported a third quarter net loss of $13.9m, up from an $8.8m loss last time on sales that slumped 30.8% at $25.2m; net loss for the nine months was $29.1m, down from a loss last time of $56.5m, on turnover down 4.4% at $95.4m.

Hogan Systems Inc has turned in second quarter net profits up 38.3% at $1.9m, on turnover that was up 11.8% at $26.2m; mid-term net profits were up 188.8% to $4.1m, on turnover that was up 18.4% at $51.1m. Net earnings per share rose 33.3% to $0.12 in the quarter, and 170% to $0.27 in the half.

Interleaf Inc has reported second quarter net profits of $922,000 against a loss last time of $14.6m on turnover that rose 1.3% at $23.3m; mid-term net profits were $1.4m against a loss last time of $22.7m on turnover that was up 9.9% at $46.4m.

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McAfee Associates Inc saw third quarter net profits down 77.5% to $430,000, after a $10.8m write-off on acquisitions, against a period including a $962,000 write-off of acquired research, on turnover up 81.9% at $25.6m; nine month net was $7.6m, against $5.4m losses last time, which were after a $12.8m write-off on two acquisitions, on turnover up 64.7% at $60.7m. Net per share fell 85.7% to $0.03 in the quarter, and were $1.02 in the three quarters.

MAI Systems Corp has reported third quarter net profits of $2.4m against a loss last time of $1.2m, on turnover up 4.4% at $16.5m; nine month net profits were $8.0m up from a profit of $203,000 last time, on turnover that fell 1.0% at $49.3m.

Maxtor Corp has reported second quarter net losses of $44.5m, down from $54.7m losses last time, on turnover that rose 61.4% at $281.4m; mid-term net losses were $58.3m, down from $466.9m losses last time, on turnover that was up 52.1% at $597.3m.

Memc Electronic Materials Inc has reported third quarter net profits up 113.5% at $27.4m on turnover up 47% at $251.2m; nine-month net rose 130.9% to $56.4m on turnover that was up 30.3% at $624.5m.

Minnesota Mining & Manufacturing Co has reported third quarter net profits up 0.9% at $344.0m, on turnover up 6.5% at $4069.0m; nine month net profits rose 8.4% to $1,073m, against a period including a $22m charge related to breast implant litigation, on turnover up 9.5% at $12,291.0m. Net earnings per share rose 1.2% to $0.82 in the quarter, and 9.4% to $2.56 in the three quarters.

Nynex Corp has reported third quarter net profits up 13.4% at $342.9m, after exceptional charges totalling $23.9m, including charges for enhanced pension offer of $23.7m and special charges of $200,000 from sale of Nynex Mobile Communications assets and changes associated with the Nynex-Bell Atlantic cellular partnership, against a $20.5m exceptional charge last time for an enhanced pension offer, on turnover that was down 2.8% at $3,238.4m; nine month net losses were $2,085.5m, after exceptional charges totalling $3,100m, including a charge of 183.7m for an enhanced pension offer, a gain $155.1m from CableComms’ initial public offering, a charge $2,920m for the discontinuance of an accounting procedure, and a charge $155.3m from a cellular partnership, against $594.3m profits last time, which were after a $312.0m charge from an enhanced pension offer, on turnover that was up 1.7% at $10,088.2m. Net earnings per share rose 11.1% to $0.80 in the quarter.

Netcom On-Line Communication Services Inc has reported third quarter net losses of $4.4m, up from $49,200 losses last time, on turnover up to $14.7m, from $3.3m last time; nine month net losses were $8.6m, against profits of $50,200 last time, on turnover that rose to $32.8m, from $7.2m last time.

Quantum Corp saw second quarter net down 47.3% at $25.6m on turnover up 46.6% at $1.1m; mid-term net profits fell 63.9% to $38.6m on turnover up 38.2% at $2.0m. Net earnings per share fell 49.4% to $0.43 in the quarter, 64.2% to $0.67 in the half.

SyQuest Technology Inc reported fourth quarter net losses of $19.1m, against $2.6m profits last time, on turnover up 26.2% at $88.4m; net losses for the year to September 30 were $11.8m, against $5.4m profits last time, on turnover up 35.5% to $299.5m.

Tivoli Systems Inc saw third quarter net profits up 313% at $1.6m on turnover up 83.2% at $13.3m; nine-month net rose 236.9% to $3.3m on turnover up 85.4% at $33.8m. Net per share rose 233.3% to $0.10 in the quarter, 200% to $0.21 in the nine months.

US West Inc has reported third quarter net profits up 0.6% at $316m on turnover that rose 7.2% at $2,964m; at the nine month mark, net profits were down 5.2% to $964m on turnover up 7.0% at $8,686m. Net earnings per share fell 4.3% to $0.67 in the quarter, 9.3% to $2.04 in the three quarters.

Mitac International Corp has reported third quarter net profits the equivalent of $2.2m, on turnover that rose 57.0% at $299.2m. No earnings per share or nine month figures were available. The figures were converted at $0.0371 to the Taiwanese dollar.

Wakebourne Plc saw net losses for the six months to June 30 of ú239,000, after a ú409,000 exceptional charge for redundancy and costs related to an aborted acquisition and a provision against software contracts, against ú716,000 profits last time, on turnover that rose 3.7% to ú18.8m. Pre-tax losses were ú356,000, against ú1.1m profits last time.

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