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July 18, 1997updated 05 Sep 2016 1:01pm

SHIVA’S Q2 SHOWS NO IMPROVEMENT

By CBR Staff Writer

Shiva Corp woes continued during the company’s second quarter. The remote access specialists reported a second quarter net loss of $996,000, or ($0.03) per share, from a net income of $5.0 million, or $0.16 per share in the same quarter last year. Revenues also fell, down 23% to $39.7 million, from $51.5 million. For the six months ended June 28, 1997, net loss was $9.4 million, or ($0.32) per share, compared with net income of $9.3 million or $0.30 per share, including merger expenses, for the first six months of 1996. Revenues were $70.9 million, compared to $94.8 million for the first six months of 1996. According to the company the revenue decline was primarily attributable to lower sales of the fixed-port LanRover units and non-remote access product lines – although it says revenues for its LanRover Access Switch products were up.

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