Xylan Corp

Xylan Corp. posted flat earnings in its third quarter despite a 51% jump in revenues. The Calabasas-based computer networking concern had net income of $4.6 million in its quarter that ended Sept. 30, about the same as a year ago. Revenue in the latest quarter rose to $53.5 million, compared with $35.4 million the year earlier. For the nine-month period, Xylan's net income jumped 73% to $17.6 million, up from $10.2 million last year. Revenues climbed 69% to $146.6 million, up from $87 million.

Xylan Corp. announced a partnership with Unisys Corp., a leading computer network integrator, to resell Xylan products worldwide. Under the agreement, Unisys will add Xylan's OmniSwitch and other switching products to its portfolio, which is distributed through direct sales in more than 100 countries. The two technology concerns also agreed to add Unisys' Global Customer Services division as a Xylan service partner, Xylan said. Xylan is based in Calabasas and Unisys in Pennsylvania.

First National Bank of Maryland agreed to a three-year, $2-million deal to upgrade its bank teller machines by purchasing some Xylan Corp. computer systems. Xylan, based in Calabasas, is a provider of high-band width switching systems used in a wide variety of computer systems, and in the telecommunications, financial, medical and other industries.

Calabasas-based Xylan Corp. on Tuesday said it expected its second-quarter earnings and sales to lag the previous period amid lower-than-expected shipments of networking equipment. The announcement sent its shares tumbling $3 to close at $14.25 in Nasdaq trading. So far this year, Xylan shares have fallen almost 40%. In the first quarter, the computer-networking company earned 13 cents a share on sales of $48 million.

Xylan Corp. shares fell 14% amid concern that fourth-quarter earnings will fall short of analysts' estimates. Shares of the Calabasas-based company fell $5 to $31 on Nasdaq before trading was halted at midafternoon. Earlier, the stock touched $29.75, a 52-week low. Slightly more than 1.93 million shares changed hands, nearly four times the three-month daily average of 504,000. The company, which makes computer networking equipment, said it doesn't know why its stock trading was halted.

Xylan Corp., a Calabasas maker of high-speed computer switches, said it plans to expand into Latin America. The company said it will open offices in Mexico, Brazil, Chile and Argentina. It already sells products in Asia and Europe. Xylan also said it has received an order worth more than $500,000 for its switching devices. Tullett & Tokyo Forex Inc., one of the world's largest foreign exchange brokers, will use the switches for its real-time trading system in London and New York.