NCR, SGI and EMC all showed the impact on their financial performance of transitions to new products and new markets.
NCR: Services revenue growth helped soften the impact of a decline in product sales for NCR.
Total revenue was down slightly to $1.54 billion for its second quarter ended 30 June, 1999, compared with $1.57 billion a year earlier. Net profit for the period was also down, at $46 million, or $0.46 per share, compared with $48 million a year earlier, or $0.46 per share.
"The planned decline in commodity hardware revenues is accelerating, but it is being offset by higher margin products and services, thereby, improving the overall financial performance,” said NCR chief executive Lars Nyberg. “When the pressure from declines in commodity hardware revenue subsides, top line revenue growth will be more evident."
SGI: The sale of shares in SGI’s Mips Technologies subsidiary helped prop up its fourth quarter and fiscal 1999 financial results.
For the quarter ended 30 June, 1999, SGI reported a net profit of $158 million, or $0.81 per share. Excluding the gain from the Mips sale, net profit would have been $22 million, or $0.12 per share.
Revenue for the quarter was $829 million, compared with $774 million in the same quarter a year ago. Revenue for fiscal 1999 was $2.7 billion, down from $3.1 billion for fiscal 1998. Net profit for fiscal 1999 was $54 million or $0.28 per share. Excluding the Mips gain, the company's fiscal 1999 net loss was $115 million or $0.62 per share.
EMC: EMC reported a bouyant second quarter with growing demand from Internet companies and the strength of growth of fibre channel attached storage and software boosted revenue and profit.
Net profit for the quarter ended 30 June, 1999, was $288,888, or $0.29 per share, up from $189,496, or $0.19 per share for the year earlier period. Revenue for the second quarter was $1.29 billion, up 36 per cent from $0.92 million a year earlier.
Software revenue increased 83 per cent and systems revenue increased 29 per cent, compared with the second quarter of 1998.
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