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Article: Computer Network Technology Corporation announces first profitable quarter.
- Article from:
- PR Newswire
- Article date:
- August 2, 1989
CopyrightCOPYRIGHT 1989 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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COMPUTER NETWORK TECHNOLOGY CORPORATION
ANNOUNCES FIRST PROFITABLE QUARTER
MINNEAPOLIS, Aug. 2 /PRNewswire/ -- Computer Network Technology Corporation (NASDAQ: CMNT) (CNT) today reported net income of $214,291, or 2 cents per share, for the second quarter ended June 30, 1989. This compares with a net loss of $331,309 or 3 cents per share for the same period in 1988. Revenues increased to $2,892,801, up 110 percent from $1,374,281 for the 1988 second quarter.
For the 1989 first half, CNT had a net loss of $428,600, or 3 cents per share, compared with a loss in the 1988 first half of $399,408, or 4 cents per share. ...