A yearly rise in profits at ALR means it is set to buy another company before the end of the year. Its profit rose by 118 per cent year on year to $10.6 million on turnover of $217.9 million, leaving the first tier vendor with $60 million in the bank after a big profit last year.
The company?s results echo the adoption by companies such as Data General and others of its quad servers. Gene Lu, US chairman of ALR, said that the deals with Unisys and DG had helped its figures. Chief financial officer Ron Sipkovich said it had $46.6 million in cash at this time last year.
A source at the company said that ALR was now on the hunt for a company to buy. But troubled Italian company Olivetti was not in the frame. He said: "There?s no doubt in my mind ALR will buy another company. Shareholders do not like to see this amount of money sitting in the bank and Lu has said privately another company is in his sights."
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