Ascend Communications, which is in the process of being acquired by Lucent, said it was surprised by better than expected sales of its access switches during its fiscal first quarter.
The sales helped the ATM supplier report a 110 per cent jump in profit to $109 million, or $0.49 a share, including a one off gain related to the acquisition of fault tolerant hardware supplier, Stratus Computer. Ascend acquired Stratus for its telecoms expertise, particularly in the intelligent networking field.
Excluding the gains, the firm?s profit would have been $108.8 million or $0.46 per share. Revenues rose to $509.4 million from $305.1 million.
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