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Computer peripherals industry

Interphase Corporation Reports Strong Financial Results for First Quarter 2000

Strategic Insights

— 1 min read

Interphase Corporation, an international supplier of enterprise networking technologies, announced a 205% increase in net income to $1,294,000, or $0.20 per share, for the first quarter of 2000. This significant improvement in profitability was driven by a 46% growth in Fibre Channel revenues to $7 million and a 276% increase in Broadband Telecommunications controller revenues to $2.14 million. Despite a 61% decline in traditional LAN and WAN revenues, the company's gross margin increased to 55% from 46% in the 1999 first quarter.

Key Takeaways:

  • Interphase Corporation reported a 205% increase in net income to $1,294,000, or $0.20 per share, for the first quarter of 2000.
  • Fibre Channel revenues grew 46% to $7 million, while Broadband Telecommunications controller revenues increased 276% to $2.14 million.
  • The company's gross margin increased to 55% from 46% in the 1999 first quarter.
  • Revenues declined 21% to $13.6 million from $17.3 million in the same period of the previous year.
  • Interphase's cash and marketable securities position increased by $4.5 million to a total of $20.8 million, the highest level in the Company's history.
  • Interphase has expanded its channel sales and marketing capability by four-fold through a recently announced agreement with Tech Data.
  • The company has made substantial progress on key initiatives, including the announcement of three new product families and the introduction of ten new products into its next-generation portfolio.
  • Interphase has added new design wins in both the computer networking and telecommunications markets, including Hewlett Packard, LAND-5, Celox, NEC, and Nokia.

Statistics:

  • Net income: $1,294,000 (205% increase from $424,000 in Q1 1999)
  • Earnings per share: $0.20 (225% increase from $0.08 in Q1 1999)
  • Revenues: $13.6 million (21% decline from $17.3 million in Q1 1999)
  • Gross margin: 55% (9% increase from 46% in Q1 1999)
  • Cash and marketable securities position: $20.8 million (22% increase from $17.1 million in Q1 1999)
  • Broadband Telecommunications controller revenues: $2.14 million (276% increase from Q1 1999)
  • Fibre Channel revenues: $7 million (46% increase from Q1 1999)

Sources:

  • Business Wire, "Interphase Corporation Reports First Quarter 2000 Financial Results" (April 20, 2000)
  • Interphase Corporation, "Company Overview" (no date)
  • Interphase Corporation, "Interphase Reports First Quarter 2000 Financial Results" (April 20, 2000)

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