ore Meets Street In 1Q
(01/19/99, 6:44 p.m. ET)
By Kimberly Caisse, Computer Reseller News
Fore Systems met Wall Street's expectations for its
third quarter.
For the three months ended Dec. 31, the
Pittsburgh-based company posted a profit of $11.1
million, or 10 cents a share, up slightly from a net profit
of $10.1 million for the same period a year ago.
First Call's analyst estimate was 10 cents a share.
For the quarter, Fore had revenue of $158.7 million, up
30 percent from $122.1 million in the year-ago quarter.
Thomas Gill, president and CEO of Fore, credited
robust sales of the company's core ATM switch, as
well as strength in its overall business for the good
quarter.
Revenue from the core ATM switch grew by more than
150 percent over the second quarter. The ASX-4000,
which began shipping last October, was the main driver
of this growth, he said in a prepared statement.
Fore finished trading on Tuesday up 4 5/16 at 21 1/8.
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