Newbridge profits plummet

07 Sep 1998

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Newbridge Networks suffered a 44 per cent drop in profits for the quarter ended 2 August. It blamed the shortfall on higher development costs and weaker sales - C$35.5m (#14m) revenue compared with C$64.4m last year.

Chief executive Alan Lutz hopes to address this by penetrating new markets surrounding the growth of the internet.

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