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Lannet Data Communications Reports Record Quarterly Sales and Strong Third Quarter Results

Strategic Insights

— 1 min read

Lannet Data Communications, a leading supplier of intelligent switching hubs, announced its operating results for the third quarter and nine months ended September 30, 1995. The company reported a record $27.5 million in net sales for the quarter, a 53% increase from $18.0 million in the same quarter last year. Net income for the third quarter was $3.3 million, or $0.28 per share, up from $1.9 million, or $0.18 per share, in the comparable quarter of 1994.

The company's strong results are largely attributable to the outstanding performance of its industry-acclaimed MultiNet switching hub and LANswitch Ethernet switching products. Sales of the company's switching product line grew over 200% year-over-year and now represent almost half of total revenues. Lannet also made significant progress in combining with Madge, including joint product strategy planning, marketing activities, and sales calls on major customers.

Key Takeaways:

  • Lannet Data Communications reported a record $27.5 million in net sales for the quarter ended September 30, 1995, a 53% increase from $18.0 million in the same quarter last year.
  • Net income for the third quarter was $3.3 million, or $0.28 per share, up from $1.9 million, or $0.18 per share, in the comparable quarter of 1994.
  • Sales of Lannet's switching product line grew over 200% year-over-year and now represent almost half of total revenues.
  • The company made significant progress in combining with Madge, including joint product strategy planning, marketing activities, and sales calls on major customers.
  • Lannet's award-winning MultiNet fault-tolerant multi-slot concentrators support multi-segment Ethernet, Fast Ethernet, Token Ring, FDDI, and Local Talk networks.
  • The company's customers are located in more than 60 countries and include financial, educational, and governmental institutions, as well as computing, automobile, pharmaceutical, and media companies.

Statistics:

  • Net sales for the quarter ended September 30, 1995: $27.5 million
  • Net sales for the quarter ended September 30, 1994: $18.0 million
  • Net income for the quarter ended September 30, 1995: $3.3 million
  • Net income for the quarter ended September 30, 1994: $1.9 million
  • Sales growth of Lannet's switching product line: over 200% year-over-year

Sources:

  • Lannet Data Communications LTD. (NASDAQ-NM SYMBOL: LANTF), Business Wire, October 26, 1995.
  • Madge Networks (NASDAQ-NM SYMBOL: MADGF), Business Wire, October 26, 1995.

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