EARNINGS : DEC’s Income Quadruples in Third Quarter
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MAYNARD, Mass. — Digital Equipment Corp., whose earnings suffered last year due to an expensive cost-cutting program, said Thursday that its third-quarter income rose more than fourfold.
But the nation’s No. 2 computer company expressed caution, saying that the weak worldwide economy was hurting sales of its computers.
Digital said net income during the quarter that ended March 30 was $116.5 million, compared to $24.9 million during the same period a year earlier.
Revenue of $3.52 billion was up 8% from the year-ago period.
During the 1990 quarter, Digital took a $150-million restructuring charge for cost cutting. Much of that included voluntary severance packages to reduce its payroll.
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