Foundry tops estimates

NEWS Network equipment company Foundry beat analysts' estimates for the second quarter, but warned that it may not be able to repeat the achievement. The company made $8.3m pro forma net income for the quarter at 7 cents per share. This topped analysts' estimates by two cents per share, but fell a long way short of the 19 cents per share the company brought in for the same quarter last year. The company put the good results down to strong sales of new products such as its 10GB Ethernet, MPLS switches and the addition of 300 new customers. However, the company declined to issue guidance for the next quarter, blaming a cloudy "macroeconomic picture".