Entrada Networks Announces Second Quarter Results

Entrada Networks, Inc. today announced results for the second quarter of fiscal year 2002 ended July 31, 2001.

Entrada reported net sales from continuing operations, its adapter cards business, of $2.2 million for the second quarter, compared with $6.0 million reported in the same period last year. Its discontinued operations, the frame relay business, had net sales of $1.9 million for the second quarter. Total net sales for continuing and discontinued operations were $4.1 million for the second quarter.

For the second quarter the Company reported a net loss of $2.8 million, or $0.26 per share, compared to a net loss of $0.7 million, or $0.18 per share, for the same period last year. The second quarter fiscal 2002 figure includes net income from its frame relay business of $0.9 million, or $0.08 per share.

For the six months ended July 31, 2001, the Company reported net sales of $3.5 million from reportable legacy products, compared with $9.8 million reported in the same period last year. For the six months ended July 31, 2001 the Company’s net loss decreased to $6.2 million, or $0.57 per share, from a net loss of $7.8 million, or $1.84 per share, for the same period last year. The net loss figure includes net income from its frame relay business of $2.2 million, or $0.20 per share, in the first six months of fiscal 2002.