THE US computer maker Digital has reported net income after tax profits of $31.9 million (£19.45 million) in its second fiscal quarter, a 78.5 per cent decrease from $148.8 million in the same period of 1995.
A company statement said the performance of the business in Ireland remains strong. Growth over the first six months has been 10 per cent with increasing demand for Irish business for a range of products and services.
The European software centre in Galway is also performing strongly, the company said. Digital employs 1,100 people in Ireland in Galway and Dublin.
The corporate results show earnings per share in the quarter, which ended December 28th, 1996, were $0.15, down from $0.91.
Total operating revenue for the quarter was $3.358 billion, compared with $3.951 billion for the comparable quarter a year ago. Revenue was up 15 per cent from the first quarter of the 1997 fiscal year.
"I am satisfied with the progress the company demonstrated in the second quarter compared with our first quarter results," said Digital chairman Robert Palmer.
"We needed to address a number of issues over the past few quarters to position the company for long term growth. We are doing so.
"Digital's long term goal is to generate revenue growth and profit levels which put us among the industry leaders."
Total operating expenses for the quarter were $1.067 billion, down 6 per cent from a year ago.
"The decrease reflects the effects of sound business controls and the continued implementation of our restructuring," according to vice president Vincent Mullarkey.
The company ended the quarter with approximately 55,900 employees, down 1,100 from the prior quarter.
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