Data General reports a profit for 4th quarter

Article Abstract:

Data General Corp's stock fell $3.25 to $17.625 in heavy composite trading on the New York Stock Exchange in spite of the fact that it reported a profit for 4th qtr FY 1991 in line with the expectations of most analysts. Investors were seemed disappointed that Data General did not keep up its trend for the previous three quarters by exceeding expectations. For the year, though, Data General has been a strong performer, after seeing its stock price dip as low as $3.50. For the 4th qtr, ended Sep 30, Data General netted $18.4 million, or 53 cents per share, up from a loss of $89.3 million, or $2.93 a share, for 4th qtr FY 1990. Revenue was $295.6 million, down 4 percent from $308.5 million, largely because of the April sale of the corporation's Japanese subsidiary. For the first time since 1984, Data General has posted four consecutive profitable quarters.

Computer peripheral equipment, not elsewhere classified, Revenue, Data General, Increase, Stock, Financial Report, DGN, Fourth Quarter

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Wang reports widened loss for 4th period; changes and write-downs totaled $496.7 million; revenue declined 13%

Article Abstract:

Wang Laboratories Inc takes $417.4 million in write-downs and restructuring charges, reporting a net loss of $496.7 million, or $3.01 a share, for the 4th qtr ended Jun 30, 1990. Revenue declines 13 percent, to $652.2 million, from $750.9 million. Nevertheless, Richard W. Miller, the company's chairman and CEO, is upbeat. Without one-time charges, he points out, Wang's losses would be only $5.6 million, which he characterizes as 'near break-even.' Miller foresees a profitable year in 1991, which would be Wang's first profitable year since fiscal 1988. Stock analysts praise recent cost-cutting moves, but they remain skeptical about the future.

Computer and Office Equipment, Office automation, Wang Laboratories Inc., Losses, WANC

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