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IN BRIEF / Technology


April 25, 2002

* Xerox Corp., whose sales have dropped eight quarters in a row, had a first-quarter loss because of costs to exit the inkjet printer business, job cuts and a decline in demand for color copiers. The loss was $64 million, or 9 cents a share, compared with net income of $202 million, or 25 cents, a year earlier. The world's largest copier maker said that the figures are preliminary because it's restating results for the last five years as part of a settlement of allegations it inflated revenue to bolster earnings. Sales dropped 12% to $3.7 billion. Excluding certain costs, Xerox said profit would have been $53 million or 7 cents.

* Wireless technology firm Qualcomm Inc. reported a 60% drop in quarterly profit. Qualcomm earned $43.9 million, or 5 cents per share, in the first three months of the year, compared with $109.7 million, or 14 cents a share, in the same period a year ago. Excluding one-time items, the company earned 20 cents per share.

* Intersil Corp., an Irvine maker of chips for wireless networks and personal computers, reported a 64% drop in first-quarter profit, to $13.8 million, or 13 cents a share, from $38.4 million, or 35 cents, a year ago. Sales rose 5% to $134.1 million.

* Epicor Software Corp., an Irvine provider of electronic business software, posted a net loss of $2.7 million, or 6 cents a share, compared with a net loss of $22.1 million, or 53 cents a share, for last year's first quarter. Revenue declined 25% to $36 million. The company said last year's results included revenue from two product lines that were divested in the second quarter.

* Rainbow Technologies Inc., an Irvine Internet security company, reported first-quarter net income of $569,000, or 2 cents a share, contrasted with a net loss of $2.6 million, or 10 cents a share, a year earlier. Revenue declined 18% to $33 million.

* Symantec Corp., which makes software for fending off computer viruses, had a fiscal fourth-quarter profit as sales increased. Net income was $4.78 million, or 3 cents a share, compared with a loss of $27.4 million, or 18 cents, a year earlier, Symantec said in a statement distributed by Business Wire. Sales in the quarter ended March 31 rose 24% to $310.8 million from $250.6 million.

* LSI Logic Corp., a maker of custom semiconductors and computer data-storage systems, said its first-quarter loss widened as customers delayed or canceled orders. The firm had a loss of $171.8 million, or 47 cents a share, wider than the year-earlier loss of $31.2 million, or 10 cents. Sales fell 20% to $412.5 million from $517.2 million.

* Web design software maker Macromedia Inc. posted a fiscal fourth-quarter net loss that was nearly four times larger than a year ago. The software maker had a net loss that ballooned to $80.5 million, or $1.37 per share, from a net loss of $21.8 million, or 42 cents a share, a year earlier. Total revenue slipped about 15% to $75.6 million from $89.1 million.

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