Xircom Hits New High for Sales in 1st Quarter
Xircom in Thousand Oaks reported record sales of $124.1 million for the first quarter of the fiscal year, which ended Dec. 31.
This compares with $98.5 million for the same period last year and $115.6 million for the prior quarter.
Net income, excluding acquisition-related costs, was a record $15.3 million or 55 cents per share, compared with $7.6 million or 30 cents per share for the same period last year, and $11 million or 42 cents per share for the prior quarter.
When acquisition-related costs were included, net income was $12.7 million or 46 cents per share. Acquisition-related costs were tied to the purchase of the Rex product line and Entrega Technologies Inc.
“We experienced an impressive 70% sequential revenue growth in new product lines,†said Dirk Gates, Xircom chairman, president and chief executive. “In addition to that, we had solid sequential revenue growth in our core access card business.â€
Xircom designs products to connect mobile users to corporate networks, the Internet, intranets and other online resources.
