By Dominic Maher, 21 July 1998 16:26
NEWS Bay Networks has reported record revenues for its fiscal 1997. Graham Allen, UK managing director, said it was "a tremendous year", adding that the targets the company set itself have all been met. Following a blip in the last quarter and turmoil in South-East Asia, Allen believes that the results are the result of "cute acquisitions," plus revenues from products that "didn't exist a year ago". Results for Q4 show revenues up to $618.3m from $543m, with net income standing at $20.6m. Revenues for the year 1998 were $2.41bn, a 15 per cent increase on the previous year.
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