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Article: PROFITS SOAR AT DIGITAL COMPUTER FIRM'S 58% RISE DISAPPOINTS WALL STREET, HOWEVER
- Article from:
- The Boston Globe (Boston, MA)
- Article date:
- July 23, 1987
- Author:
CopyrightCopyright 1987 The Boston Globe. Provided by ProQuest LLC. (Hide copyright information)
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High - lying Digital Equipment Corp. yesterday reported
another stellar quarter, but it disappointed Wall Street, which has
come to expect miracles from the Maynard computer maker.
Fourth-quarter profits soared 58 percent on a 22 percent
increase in sales, but Digital shares fell sharply in heavy
trading, closing at 158 1/2, down 6 1/2.
Net income was $377 million, or $2.85 a share, on sales of
$2.67 billion. In the final quarter last year, net income was $238
million, or $1.81 a share, on sales of $2.18billion.
For the full year, the numbers were even more dramatic. Net
income jumped 84 percent to $1.14billion, or $8.53 per share,
compared with $617 million, or $4.81 in 1986. ...