Asante Technologies is pleased to announce results for the first quarter of fiscal 2001.
Net sales were $7.0 million for the first quarter ended December 30, 2000, compared to $9.1 million for the same period last year. The Company continued a profitability trend by posting net income of $232,000 or $0.02 per diluted share for the quarter, an increase of 23% from $189,000 for the first quarter of fiscal 2000.
STREAMLINED OPERATIONS
Managementis streamlined operations continue to yield favorable results. Although the Company continues to invest heavily in new IntraCore and router technologies, total operating expenses were only $2.3 million, down 32% from $3.4 million from the same period a year ago. The Company reported a gross margin for the first quarter of fiscal 2001 of 36%, compared to 39% for the same period of fiscal 2000."Asante is well-positioned to meet the most important segments of the Internet industry: high-speed client access and infrastructure,i reported Wilson Wong, Asanteis Chairman and CEO. iDespite the widely-reported industry slow down in the last quarter of 2000, Asanteis portfolio of innovative products allowed us to capitalize on our sales momentum offsetting the revenue impact for the quarter. Our sales to education, digital design and small/home business customers have been encouraging."
You can find more information about their full line of products at the Asante Web site.