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Technology Stocks : Orckit (ORCT) -- Ignore unavailable to you. Want to Upgrade?

To: savolainen who wrote (793)	11/2/1997 1:12:00 AM
From: jay silberman	Respond to of 1998

From Globes: globes.co.il Thursday , Oct 30, 1997 Sun-Thu at 18:00 (GMT+3) Headlines Orckit: First Profitable Quarter By Amir Eisenberg Orckit reported today (Thursday) that it wound up the third quarter of 1997 with a net profit of $110,000 ($0.01 per share), a little higher than the general profit consensus reached by analysts, which expected the company to end the quarter at break-even point. Orckit's activity is seasonal, a fact that is reflected in its financial results. Second and third quarter profits tend to be similar, while sales increase significantly in the fourth quarter. Orckit's Q3 '97 sales fell to $7.2 million, compared to $7.7 million in the second quarter. In the third quarter of 1996, sales amounted to $2.8 million. Despite the decrease in revenues, Orckit passed to a profit in the third quarter thanks to an improvement in gross profit, which was up to 38.1%. Orckit, which develops and manufactures fast modems for local networks, has been presenting an improvement in gross profitability for the past four quarters. In the first nine months of 1997, Orckit lost $680,000 ($0.05 per share), compared to a loss of $2.2 million ($0.18 per share) in the corresponding period last year. Its revenues for the period amounted to $20.1 million, compared to $7.9 million in the corresponding period of 1996. << Previous ArticleNext Article >> ÿ Advanced Search ------------------------------------------------------------------------ Created by Globes-Sites Database-generated by c Copyright 1997, Globes Publishers Ltd. Disclaimer