Red Ink Fades as PairGain Sets Records

PairGain Technologies Inc. reported record net income and revenue for the second quarter.

The telecommunications systems manufacturer said net income totaled $7.6 million, or 21 cents a share. For the year-earlier period, the company reported a loss of $22.8 million, or 76 cents a share, which included a $26.8-million loss from unauthorized trading activity. Revenue rose 97% to a record $47.2 million from $23.9 million.

First half net income was $13.8 million, or 39 cents a share, compared with a net loss of $19.6 million, or 70 cents a share, for the corresponding 1995 period. Revenue more than doubled to $87.8 million from $43 million.