Newbridge Networks Announces Preliminary Estimates of
Third Quarter Fiscal 1998
06:42 p.m Feb 02, 1998 Eastern
KANATA, Ont., Feb. 2 /CNW-PRN/ - Newbridge Networks Corporation today
announced preliminary estimates of financial results for the third quarter of fiscal
year 1998, which ended February 1, 1998. Revenue for the third quarter is expected
to be approximately $360 million, compared with revenue of $333 million for the
third quarter of fiscal 1997. Revenue for the first nine months of fiscal 1998 is
expected to be approximately $1,227 million, an increase of more than 30% over the
comparable period for the prior fiscal year. Excluding one-time charges and gains,
pro forma fully diluted earnings per share for the quarter are expected to be 10
cents, in accordance with Canadian GAAP. Fully diluted earnings per share on a
pro forma basis, in U.S. currency, calculated in accordance with U.S. GAAP, and
translated at the average exchange rate for the quarter of 0.7006, as reported by
the Federal Reserve Bank of New York, are expected to be 7 cents.
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