As talks continue about selling key units to Kodak, Wang Laboratories turned in a first quarter loss of $26.4 million on turnover of $290.7 million, but said the downfall included a charge of $13 million from previous redundancies.
The other charge for the period accrued from its acquisition of I-Net last August, said senior executives. Turnover rose in the first quarter by 10 per cent compared to the period before.
If Wang had not acquired I-Net and absorbed the charges associated with job losses, it would have turned in a profit, said Joseph Tucci, Wang?s CEO and chairman.
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