4th-Quarter Revenue Climbs, Net Income Slips at PairGain

Telecommunications systems manufacturer PairGain Technologies Inc. posted lower net income for the fourth quarter while revenue climbed 18%.

The company said it earned $12.7 million, or 17 cents a share, for the three months, down 2% from $12.9 million, or 17 cents a share, a year ago. Revenue advanced to $74.5 million from $63.1 million.

Net income for the year rose 36% to $47.6 million, or 63 cents a share, from $34.9 million, or 47 cents a share, in 1996. The 1997 figure included merger expenses of $2.6 million related to the February 1997 acquisition of Avidia Systems. Net income in 1996 included a $2.5 million recovery related to 1995 unauthorized trading losses. Revenue increased 37% to $282.3 million from $205.5 million.