DEC’s first quarter figures – sales up 24%, net a storming 48% ahead (see page three) – show that the Maynard minimaker is still gaining ground on IBM, which saw profits up 12% but turnover up less than 7%: DEC attributed the advance to higher US sales, saying that initial demand for the MicroVAX 3000 and VAXstation 3000 has been strong; analysts look for the progress to continue, with the company doing around $11 a share for the year to June, against $8.53 to June 1987; one reason for the 48% profit surge was that the company’s tax rate dipped to 27% last quarter from 38% a year ago, but even at the pre-tax level, profits were 25.5% ahead.
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