Despite recent jitters over technology stocks, the IT industry recorded a healthy quarter with most companies turning in good results. Only a handful of firms were left out in the cold.
Baan was one such company. The enterprise resource planning (ERP) vendor published the latest of several disappointing earnings reports showing a loss of $26m (£16.5m) in the three months to March.
In the first quarter of 1999, Baan lost $19.1m. Turnover in the first quarter of 2000 slumped to $106m from $176m.
Fellow ERP vendor SAP saw its US chief executive resign and suffered sluggish first-quarter sales growth. Profit fell for the period ended 31 March. Sales in the quarter increased to 1.2bn euros (£700m) from 1.1bn euros the year before. The 10 per cent rise is one of SAP's weakest quarterly gains in the past 10 years.
Turnover edged up just four per cent to 369m euros. Profit fell 43 per cent to 56m euros from 98m euros.
On its way back up, Lucent posted a 41 per cent rise in its second-quarter earnings on demand for wireless and Internet products, following a disappointing first quarter.
The vendor made $754m in the three months ended 31 March, compared with $535m a year ago. Turnover for the quarter rose 17 per cent to $10.3bn, from $8.8bn the year before.The success stories include EMC. Its first-quarter sales rose 49 per cent on 23 per cent growth in turnover for the period ended 31 March.
Profit increased to $332m from $222.3m, while turnover rose to $1.8bn from $1.5bn.
Philips Electronics also posted strong first-quarter results. Profit was up 31 per cent to 614m euros from 469m euros a year earlier.
Chip giant Intel continues to blast ahead. Profit rose 37 per cent to $2.7bn from $2bn for the period ended 1 April, compared with the same period last year. Turnover rose 13 per cent to $8bn, up from $7bn.
Apple said strong sales of its high-end computers contributed to better-than-expected quarterly results. For its second-quarter, ended 1 April, it reported profit of $233m, up 73 per cent from $135m last year. Turnover was $2bn, up from 27 per cent from $1.5bn.
Network Associates also posted strong figures for the period ended 31 March. Turnover was $214m with profit of $29m.
Symantec's strength in the retail and enterprise markets resulted in turnover of $187.2m for the fourth quarter ended 31 March, an increase of 22 per cent from last year. Profit rose 62 per cent to $40.2m, compared with $24.7m in the same period a year earlier.
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