Wang Laboratories Inc’s, reincarnated network services business continues to build momentum while what’s left the old Wang Laboratories proprietary systems dwindle into nothing. Second quarter net profits were up 176% at $12.4m but revenue fell one percent to $338.9m, despite a 15% increase in network services revenues. The company clung to the fact that in constant currency terms, total revenues grew against its second quarter 1996, but a chunk was taken out of the total with the loss a further $20m of revenues from its old VS minicomputer installed base, revenue from which fell to just $60m in the quarter. Wang claims to have won $373m of new business in the quarter, and the shares were buoyed up by the positive outlook, rising 5% to $23.25. Meanwhile, the company continues to stall for time on its proposed merger with Olsy, Ing C Olivetti SpA ‘s 13,000 employee systems and services division, a merger first mooted over six months ago. Wang said discussions were ongoing but declined to add any comments about what was holding the deal up.
Content from our partners
