Primary Rate Inc

Xircom Inc., a Thousand Oaks-based maker of network adapters for portable computers, said it has completed its acquisition of privately held Primary Rate Inc., a producer of computer network products and software. Xircom said it paid about $48 million in cash and stock for Primary Rate, which will continue to operate from its Salem, N.H., headquarters. Primary Rate's chief executive officer, Mark Galvin, will continue to oversee operations of the company as a vice president at Xircom.

Xircom Inc., a Thousand Oaks-based maker of network adapters for portable computers, said it has completed its acquisition of privately held Primary Rate Inc., a producer of computer network products and software. Xircom said it paid about $48 million in cash and stock for Primary Rate, which will continue to operate from its Salem, N.H., headquarters. Primary Rate's chief executive officer, Mark Galvin, will continue to oversee operations of the company as a vice president at Xircom.

Xircom Inc., a Thousand Oaks maker of portable computer communications devices, said increased competition contributed to a 37% drop in its net income to $2.47 million in the second quarter that ended March 31, down from a $3.92-million profit a year earlier. Sales in the latest quarter increased 32% to $40 million, up from $30.2 million over the same period last year. For the six-month period, Xircom's net income also fell 5% to $7 million, down from $7.4 million a year earlier.