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Cabletron units going solo
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June 28, 2000: 9:04 p.m. ET
Cabletron says plans for IPOs for four subsidiaries ahead of schedule
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NEW YORK (CNNfn) - Cabletron System's four subsidiary companies are ahead of schedule on their way to initial public offerings with management teams in place and strong individual revenue growth, the company said Wednesday.
"In one quarter, Cabletron Systems has fully transformed itself," said Piyush Patel, president, CEO and chairman of Cabletron (CS: Research, Estimates) in a statement.
Rochester, N.H.-based Cabletron said its four subsidiaries, Aprisma Management Technologies, Enterasys Networks, GlobalNetwork Technology Services and Riverstone Networks have completed their financial carve-out, divested non-core businesses and solidified new management teams.
Networking company Cabletron's subsidiaries each provide networking solutions for a specific market. Aprisma handles network software, Riverstone is a service provider and broadband unit, Enterasys deals with corporate networks and Global Network Technology is an independent network consulting company.
Two of the four companies are expected to go public this year, but Cabletron would only name Riverstone, which will be the first to debut.
In the first quarter ended June 3, Riverstone had sales of $15.8 million, up 24 percent from the same period a year ago.
As a whole, Cabletron lost $3.7 million, or 2 cents per diluted share in first quarter 2000, which was a penny less than analysts' consensus estimates compiled by earnings tracker First Call. 
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Cabletron
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