A 37 percent dip in sales, a lagging economy and Adelphia Communications Corp.'s bankruptcy filing led to much suffering for Scientific-Atlanta Inc. in the fourth quarter.
The company posted sales of $390.1 million, down $229.5 million from the same period a year ago. A Q4 net loss of $15.7 million, or 10 cents a share, was reported. In the same quarter a year earlier, S-A reported net income of $73.4 million, or 44 cents a share.
Part of S-A's problems stem from Adelphia's bankruptcy. S-A de-booked $199.8 million in orders from Adelphia. The two companies have however reached an agreement that they will do business in the future.
During the quarter, S-A shipped 805,000 Explorer set-tops and 272,000 WebSTAR cable modems. Sales of transmission products declined 28 percent to $119.8 million, while sales of satellite products increased 10 percent to $23.7 million, compared to a year ago.
S-A introduced the Explorer 8000 home media server into two customer sites during the quarter. The server integrates personal video recording with an advanced digital set-top.