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/ BARBARA MURPHY

Franklin Telecom Has 2nd Quarter of Steady Growth

October 20, 1998|BARBARA MURPHY

Franklin Telecom in Westlake Village said sales for the three months ended Sept. 30 exceeded $900,000, compared with sales of $524,000 and $325,000 for the previous two quarters.

"Finally, our investment of time and money has started to pay off," said CEO Frank W. Peters. "This marks the second quarter of steady growth. We still have a way to go to break even, but both Franklin and [subsidiary] FNet are now starting to reflect our efforts."

Tom Russell, vice president of finance and chief financial officer, confirmed that for the fiscal year ending June 30, Franklin Telecom incurred a consolidated net loss of $4.5 million on sales of $1.3 million, or a loss of 29 cents per share.

Franklin Telecom, founded in 1981, designs and manufactures communications devices, satellite systems and software. FNet is its Internet subsidiary.

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