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|Subject: Yurie Systems, Inc. Reports Record First Quarter||Date: 4/15/1998 5:50 PM|
|Author: scottsewall||Number: 44 of 54|
Wednesday April 15, 4:10 pm Eastern Time
Company Press Release
SOURCE: Yurie Systems, Inc.
Yurie Systems, Inc. Reports Record First Quarter Financial Results
LANDOVER, Md., April 15 /PRNewswire/ -- Yurie Systems, Inc. (Nasdaq: YURI - news) announced today record financial results for the first quarter ended March 31, 1998.
The Company's revenue for the first quarter was $19.1 million, representing a 127% increase over the $8.4 million reported in the first quarter of 1997 and a 8.4 % sequential increase
over the $17.6 million reported in fourth quarter of 1997.
Net income for the first quarter of 1998 was $3.8 million, or $0.14 per share diluted ($0.15 per share basic), a 456% increase over the $677,000 in net income, or $0.03 per share both
diluted and basic, reported in the first quarter of 1997, and a 59% sequential increase over the $2.4 million in net income, or $0.09 per share both diluted and basic, reported in the fourth
quarter of 1997. For the fourth quarter of 1997, net income included one-time expenses associated with the acquisition of Data Labs. Excluding such expenses from the fourth quarter
would have resulted in a sequential increase in net income of 26%.
All earnings per share amounts reported in this release represent diluted or