July 15, 1998 |
Intel Corp., the world's top maker of computer chips, said Tuesday that its second-quarter profit fell a greater-than-expected 29% as sales faltered. The company also warned that the third quarter will show little if any improvement. Profit dropped to $1.17 billion, or 66 cents a diluted share, from $1.65 billion, or 92 cents, in the year-ago quarter. Analysts expected earnings of 68 cents, according to First Call Corp. Sales slipped to $5.93 billion from $5.96 billion.
April 1, 1997 |
Ascend Communications Inc. shares plunged 22% on Monday amid concern that its $3.7-billion offer for rival networking equipment firm Cascade Communications Corp. is too high. Ascend's stock fell $11.25 to close at $40.75 in Nasdaq trading, its lowest close since Feb. 1, 1996.
November 5, 1997 |
Ascend Communications Inc.'s new chief financial officer said the company will meet earnings estimates this quarter and next year as it cuts expenses and lowers prices. The Alameda-based maker of computer-networking equipment reported that its profit declined in the third quarter, breaking a string of more than a dozen straight quarters of record earnings. The decline came after technical problems delayed product shipments in the second quarter and international sales slumped.
April 21, 1999 |
Phone.com Inc. of Redwood City, Calif., has added Reed E. Hundt to its board of directors, becoming another in a string of telecommunications companies to tap the expertise--and influence--of the former chairman of the Federal Communications Commission. Hundt, who was FCC chairman from 1993 to 1997, is a senior advisor at McKinsey & Co. and a principal of Charles Ross Partners, a Maryland consulting and investment firm.
September 30, 1997 |
Ascend Communications Inc. said its third-quarter profit will fall short of analysts' estimates because of weaker-than-expected overseas sales. The Alameda-based company said earnings for the quarter ending today will be 18 cents to 20 cents a share, compared with the 29 cents it earned in the year-earlier period. Analysts were expecting profit of 31 cents, the average estimate of 30 analysts surveyed by IBES International Inc.