Xircom in Thousand Oaks reported record sales and earnings for its fiscal year ended Sept. 30.
Sales for the year were $408.9 million, a 48% increase over the $276.1 million a year earlier. Net income, excluding acquisition-related costs and other nonrecurring charges, was $46.3 million, or $1.82 per share, an increase of 153% compared with $18.3 million, or 78 cents per share, for fiscal year 1998.
Including acquisition-related costs and other nonrecurring charges, net income was $43 million, or $1.69 per share.
Sales for the fourth quarter grew to a record $112.1 million, a 27% jump from the $88.1 million for the same period last year and a 9% increase compared with the $103.1 million for the prior quarter. Net income, excluding acquisition-related costs and other nonrecurring charges, was a record $13.6 million, or 53 cents per share, compared with $7.9 million, or 33 cents per share, in the same period last year, and $12.1 million or 48 cents per share for the prior quarter.
Including acquisition-related costs and other nonrecurring charges, fourth-quarter net income was $10.3 million, or 40 cents per share.
"In 1999, we realized tremendous market share growth due to our leadership in the fastest-growing segments of the PC Card [industry], and customers continuing their rapid transition to our cable-free RealPort Integrated PC Card," said Dirk Gates, the company's chairman, president and chief executive.
Xircom designs products to connect mobile users to corporate networks, the Internet, intranets and other online resources.