ACT Networks Report Rise in 3rd-Quarter Revenue

ACT Networks in Camarillo reported that third-quarter revenues rose to a record $8 million, a 46% increase from the comparable quarter in the prior year and a 31% increase from the second quarter.

The sales growth was driven by the company’s frame-relay products, sales of which increased 28.8% from the same period a year ago. All regions except Asia Pacific reported substantial sales growth.

Net income for the third quarter was $395,000 or 5 cents per share, as compared to $317,000 or 7 cents per share in the same period last year.

For the nine months ended Dec. 31, revenues grew to $19.3 million from $14.8 million for the comparable period last year. For the nine-month period the net loss, including second-quarter one-time charges of $6.3 million, was $6.5 million or 83 cents per share, versus net income of $704,000 or 15 cents per share, in the year-ago period.

Second quarter one-time charges were related to the company’s acquisition of Presticom and an inventory reserve for older TDM products.