PairGain Posts 47% Increase in Net Income in 3rd Quarter

PairGain Technologies Inc. posted a 47% gain in net income in the third quarter on record revenue.

The telecommunications products company said net income rose to $9.1 million, or 25 cents a share, from $6.2 million, or 18 cents a share, a year ago. Revenue surged 84% to $54.6 million from $29.6 million.

Nine-month net income totaled $22.9 million, or 64 cents a share. That contrasts with a net loss of $13.4 million, or 47 cents a share, for the like 1995 period, which included a loss of $25.1 million due to unauthorized trading activity in the company’s investment accounts. Sales increased 96% to $142.4 million from $72.6 million.