Just a matter of time. Our turn is coming....soon!!!!
January 29, 1999:
Earnings Rise 37% at S-A
Atlanta-Robust sales of its Explorer 2000 interactive digital set-tops fueled record second-quarter revenue at Scientific-Atlanta Inc. for the period ended Jan. 1. Revenue for the quarter was $310.7 million, a 5 percent increase, and earnings were up by 37 percent to $19.2 million, or 25 cents per share.
For the first half of the fiscal year, S-A reported revenue of $568.2 million, compared with $589 million in the previous year. Net income for the first six months of the fiscal year was $34.2 million, or 44 cents per share, compared with $31.3 million (40 cents) in the prior year.
The company said that so far, 17 cable companies have committed to deploying the Explorer 2000 system, and 89 sites have been committed to date, with more than 17 million basic subscribers and 25 million homes passed.
Sales of analog set-tops were also strong during the quarter, with more than 530,000 standard and advanced-analog units shipped.
Wall Street reacted favorably to the report. At midday Friday, S-A's shares had risen by $1.94, to $31.94 apiece.
· 1/29/99
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