NEW YORK -(Dow Jones)- Tektronix Inc. reported Thursday that fiscal
fourth-quarter earnings rose 15% from a year ago.
For the quarter ended May 30, the Wilsonville, Ore.-based maker of
color printers, measurement equipment, video and network hardware had
net income of $42.5 million, or 83 cents a diluted share - right in line
with the mean estimate of analysts surveyed by First Call.
Last year, fourth-quarter net income totaled $36.9 million, or 72
cents a diluted share.
Sales rose just 2.6% to $557.9 million from $543.9 million.
For the full fiscal year, net income fell 28% to $82.3 million, $1.60
a share, diluted. That included charges of $40.5 million, or $1.03 a
diluted share, for acquired in-process research and development and the
restructuring of its video and networking division. Excluding charges,
earnings were $135.2 million, or $2.63 a diluted share.
In fiscal 1997, Tektronix had net income of $114.8 million, or $2.29
a diluted share.
Full-year sales rose 7.5% to $2.09 billion from $1.94 billion.
Tektronix (TEK) attributed higher earnings in the latest fourth
quarter to the video business turnaround and an increasing
printer-consumables business.
Tektronix remains cautious in its outlook for Asia and is taking
actions where it believes it needs to be more conservative in managing
costs. The company said it remains committed to the region's long-term
potential and will continue to make prudent strategic investments. |
