Cabletron Systems Inc. reported quarterly earnings late Wednesday that met Wall Street expectations. For the first quarter ended June 2, Cabletron reported net income of $9.8 million, or 1 cent a share, compared with a loss of $37.9 million, or 21 cents a share, in the same period last year. Net revenue rose to $306.9 million, up from $275 million a year ago.
Cabletron is a holding company for several high-tech endeavors, including Enterasys Networks, which makes enterprise networking equipment; Riverstone Networks, which makes routers for service providers; Aprisma Management Technologies, which handles infrastructure management; and Global Network Technology Services, a consulting firm.
Cabletron also elaborated on plans to spin off its subsidiaries. Riverstone Networks is expected to be spun off at the end of July or early August, and Enterasys is expected to be established as an independent company in August. Enterasys president Henry Fiallo will hold a conference call on July 10 to discuss details of the move.