Wayne, PA, July 22, 1999—Safeguard Scientifics, Inc. (NYSE:SFE), an information technology holding company that develops and operates Internet-related companies, announces operating results for the second quarter ended June 30, 1999.
Net earnings for the second quarter of 1999 were $11.5 million, or $0.33 a share (diluted), compared to $6.0 million, or $0.18 a share (diluted), in 1998. The significant earnings increase is a result of gains in the second quarter of 1999 related to the company's holdings in Tellabs. Net sales for the three months ended June 30, 1999, were $809.4 million compared to $602.5 million for the same period in 1998. The increase reflects the higher sales at CompuCom resulting from its acquisition of ENTEX's Technology Acquisition Services Division (TASD) which closed on May 11, 1999. |
