NEWBRIDGE NETWORKS ANNOUNCES FINANCIAL RESULTS FOR
THIRD QUARTER OF FISCAL YEAR 1998
ww2.newswire.ca
KANATA, Ont., Feb. 24 /CNW/ - Newbridge Networks Corporation today
announced financial results for the third quarter of fiscal year 1998, which ended February 1, 1998. Revenue for the third quarter was $359 million, compared with revenue of $333 million for the third quarter of fiscal 1997.Revenue for the first nine months of fiscal 1998 was $1,225 million, an increase of more than 30 percent compared with the same period of the prior fiscal year. Excluding one-time charges and gains, pro forma fully diluted earnings per share for the quarter were 10 cents, in accordance with Canadian GAAP. Pro forma diluted earnings per share in U.S. currency were 7 cents, 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.
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