Scientific-Atlanta Reports Q1 Results

Oct 21, 2004  •  Post A Comment

Cable set-top box maker Scientific-Atlanta on Thursday reported a 31 percent surge in fiscal first-quarter profit, as the company reported strong demand for its digital-video-recorder-capable cable boxes.

The results came as the company announced that Chairman, President and CEO Jim McDonald was taking a leave of absence for 45 to 60 days to recover from surgery earlier this week.

For the three months ended Oct. 1, the Atlanta-based company recorded a profit of $55.9 million, or 36 cents a share, up 31 percent from $42.7 million, or 28 cents a share. Revenue rose 14 percent to $452.7 million.

The improvements came as the company said it sold 397,000 DVRs in the quarter, split between 248,000 standard-definition units and 149,000 high-definition units.

The company also sold 92,000 high-definition set-top boxes in the quarter.

While Mr. McDonald recuperates, Wally Haislip, senior VP of finance and operations; Michael Harney, senior VP and president of subscriber networks; and Dwight Duke, senior VP and president of transmission network systems, will manage the company jointly.