Xircom Inc., a computer electronics company in Thousand Oaks, reported a more than three-fold increase in third-quarter earnings compared to a year ago.
The manufacturer of modems and other computer products for mobile and remote personal computers reported sales of $52.2 million for the three months ended June 30, a 216% jump from $16.5 million for the comparable three months in 1995. The record sales resulted in a net income of $2.5 million, which contrasts with a net loss of $48.8 million a year earlier.
Steve DeGennaro, Xircom's chief financial officer, credited the company's recent profitability to a greater concentration on its PC Card modem products, which represent 85% of the company's business.
This refocusing, he said, should prove successful in the long term.
"The real message that should come out of this, relative to a turn-around, is that we have done it in a way that is sustainable," DeGennaro said. "It's very easy to come through and turn a company around by slashing prices and cutting costs, but we've done it through product growth and product releases."