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Another financial roundup

Thu, 07/19/2001 - 8:00pm
Anne Kerven

Scientific-Atlanta showed net earnings of $73.4 million, or 45 cents a basic share, in its fourth quarter, up from $59.1 million or 37 cents a basic share a year ago. Fourth-quarter sales reached $619.6 million — up from $552.6 million a year ago.

Its year-end sales ended June 29 reached $2.5 billion, up dramatically from $1.7 billion a year ago. Net earnings for the year were $333.7 million, or $1.99 a diluted share, compared with last year's $155.8 million, or 94 cents a share, in net earnings.

PMC-Sierra reported second-quarter net revenue of $94.1 million, compared with $150.5 million a year ago. It also reports a pro forma net loss of $13.4 million, or 8 cents a share, compared with a net income of $38.1 million, or 21 cents a share, a year ago.

The pro forma numbers exclude several charges and writedowns, including $189 million in impaired intangible assets charges and $12.1 million in inventory write-downs, as well as other charges in Q2 2001.

Nortel Networks Corp. showed second-quarter net losses of $19.4 billion, or $6.08 a share, in its second quarter, compared with a net loss of $745 million, or 26 cents a share, a year ago. Revenue reached $4.6 billion, compared with $3.9 billion for the same quarter last year.

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