Gateway Communications Plans Stock Offering
Gateway Communications Inc., a communications equipment maker based in Irvine, said it plans to make a common stock offering sometime after the second quarter ends June 30.
The company said it expects that about half of the offering will be shares now in the hands of existing stockholders. A Gateway spokesman declined to provide further information until the company releases a formal prospectus.
Gateway reported net earnings for the first quarter of 1986 of $251,957, more than two times higher than the quarter a year earlier. The company attributed the profit growth to its success in the international market.