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CNNfn after the bell
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April 13, 1999: 7:53 p.m. ET
Seagate slightly ahead, @Home matches, Advents beats Street by a penny
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NEW YORK (CNNfn) - Tech, software and Internet companies all had their shot at the after-hours quarterly report Tuesday.
Disk drive maker Seagate Technology Inc. (SEG) sailed through the third quarter with slightly better-than-expected net income of 49 cents per share, which exceeded First Call's expectations of 46 cents per share. The figure does not include a $60 million charge related to the restructuring of certain of the company's worldwide operations.
Including the charge, Seagate saw earnings of $82 million or 34 cents per share for the quarter. For the year ago quarter, revenue, net loss and net loss per share were $1.675 billion, $129 million and 53 cents, respectively.
Internet service provider @Home Network (ATHM) posted first-quarter net losses of $8.9 million or 7 cents per share, which matched First Call's projections. The net loss after the cost of distribution agreements, merger and acquisition related costs, and investment gain from a business combination for the first quarter was $18.1 million or 15 cents per share.
In the year ago period, @Home reported a net loss before costs of $11.6 million or 10 cents a share. Including costs, the company reported a $31.2 million loss or 28 cents per share.
PairGain Technologies Inc. (PAIR), which was the subject of a bogus acquisition report last week, posted net income for the first quarter of $4.2 million or 6 cents per diluted share, missing First Call's estimates of 7 cents per share.
Net income for the year ago period was $12.2 million or 16 cents per diluted share.
And a penny made was a penny above expectations for Advent Software Inc. (ADVS). The company reported net income of $2 million or 21 cents per share, beating First Call's estimate 20 cent figure. Income was up 55 percent from the year ago figure of $1.3 million or 15 cents per share.
Lucent Technologies Inc. (LU), the world's largest telecommunications equipment maker, said its second-quarter earnings would meet or exceed Wall Street expectations of 15 cents a share.
Lucent also said it was on target to post revenues of more than $8 billion, a 30 percent increase over the year-ago quarter and roughly in line with analyst expectations.
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