ACT Networks Posts a Loss of $483,000

ACT Networks in Camarillo reported a second-quarter loss of $483,000, or 5 cents per share, compared with a net income of $1.1 million, or 11 cents per share, a year earlier.

Revenues for the quarter that ended Dec. 31 increased to $15.3 million, up 28.6% from $11.9 million in the comparable quarter in 1996, and up 17.6% from just over $13 million in the first quarter of this fiscal year.

The net loss for the first quarter of this fiscal year, excluding in-process research and development charges, was $2.2 million, or 24 cents per share.

“In the second quarter we made progress in positioning ACT for a return to profitability,” said Martin Shum, chairman and chief executive officer. “Significantly, [the] availability of new products, focused marketing efforts and improvements in our sales force led to revenue growth of nearly 18% over the immediately preceding quarter.”

Shum said the company will take further steps to control costs and improve its financial results.

ACT Networks develops and manufactures wide-area network access products.