Xircom Inc. Reports 3rd-Quarter Sales Hike
Xircom Inc. in Thousand Oaks reported record sales of $71.3 million for the third quarter ended June 30, a 42% increase over $50.2 million for the same period last year and an 11% increase compared to the $64.1 million for the prior quarter.
Income from continuing operations was $4.7 million or 20 cents per share, compared to $400,000 or 2 cents per share for the same period last year. For the previous quarter, the figures were $3.3 million or 14 cents per share.
“The strength of the company was evident in every aspect of the business this quarter,” said Dirk Gates, chairman, president and CEO. “As a result of our transition to speed-based processes throughout the business three quarters ago, we are now operating at our target profitability model and the balance sheet is the strongest in the history of the company.”
During the quarter, the company began shipping the first product in the RealPort Integrated PC Card family and was awarded the first patent for the RealPort PC card. Xircom also announced an agreement to provide Hewlett-Packard with PC cards and shipped the second-generation CardBus Ethernet adapter under a new agreement with IBM.
Xircom manufactures communications products.