Networking supplier Cabletron bounced back from recent poor results to make an impressive profit in its second quarter, as Don Reed settles in as chief executive.
Reed replaced retiring president and CEO Bob Levine on 1 September and chairman Craig Benson said Reed will lead the vendor as voice, data and networking technologies converge.
The networking company made $57.6 million profit on turnover of $371.3 million, up from $36.9 million profit on $340.9 million turnover in Q2 1996. The figures include an acquisition charge of $27.1 million.
Analysts expected lower profits than this from Cabletron, which announced poor sales and flat profit levels in its Q1. They said the company's switching business was performing well and that bodes well for its future business.
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