By Suzanna Kerridge, 26 June 1998 15:16
NEWS Cabletron Systems' has fallen short of market expectations for its first quarter of fiscal 1999. The networking vendor reported revenues of $365.7m (£219M) - an increase of less than 1 per cent compared to results for the same period last year. Operating profits only hit four cents a share, two cents less than analysts predicted. The company's total losses amounted to $152.3m (£91.2M), including a one-off charge relating to its acquisition of Yago Systems. Cabletron's CEO, Craig Benson, said he is pleased with the results and claims the company is "positioning itself well for the future".
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