Citing strong demand for E-business-related products, Novellon Thursday reported solid gains in first-quarter sales and profits. For the period that ended Jan. 31, the company posted net income of $45 million, up 55% over the year-ago period. Earnings were 13 cents per share on a diluted basis, up 5 cents from last year. Net revenue rose 11% to $316 million, from $286 million last year.
Geographically, Novell experienced the highest revenue gains in the Asia-Pacific region, where sales increased 22% to $27 million from the same quarter last year, while U.S. revenue rose 6% to $166 million in the quarter.
Meanwhile, Cambridge Technology Partners Inc. reported lower sales and profits for its fourth quarter, which ended Dec. 31. The company posted revenue of $145 million, compared with $160.2 million for the same quarter last year. Ending the quarter in the red, the company reported a loss of $17.3 million, or 28 cents a diluted share, vs. a profit of $16.3 million, or 26 cents a share, in the same period last year.
For the year, revenue was up to $628.1 million from $612 million for 1998. Net income, however, fell to $2.1 million, or 3 cents a diluted share, from $51.9 million, or 83 cents a share, for 1998.