For an industry comparison, look at General Instrument's numbers:
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Sales grew to $518 million for the quarter from $465 million in the third quarter of 1997 and $489 million for the second quarter of 1998. Record revenues in the quarter reflect strong shipments of interactive digital cable TV systems, partially offset by anticipated analog and international sales declines. Transmission sales grew sequentially, in line with expectations, while sales of satellite products were slightly ahead of expectations.
Orders for the third quarter of 1998 totaled a record $575 million, up from $442 million in the third quarter of 1997 and $550 million in the second quarter of 1998. The Company's backlog on September 30, 1998 stood at $632 million, compared to $472 million a year ago.
"The tremendous success of the interactive digital cable rollout by our customers has helped to drive General Instrument to a record-setting quarter, from orders to earnings per share," said Edward D. Breen, Chairman and CEO. "The acceleration of our digital shipments coupled with our continued focus on operational efficiency contributed to operating income growth in the third quarter of more than 65% over the same quarter last year, marking the third consecutive quarter of more than 50% year on year growth in operating income." |
