Digital posts solid profit

Chiming with the release of the sequel to Jurassic Park, the dinosaurs of the computer industry aren't doing so badly: Digital today followed IBM by impressing Wall Street with some smart numbers.

Digital reported a $124 million profit for its fourth quarter ended June 28, improving on a net loss of $433 million for the year-ago quarter when a $492 million restructuring charge was included.

More good news: Digital made a $141 million profit on its financial year compared to a $112 million loss last year. However, revenues are slipping slightly, down from $2.1 billion for the previous year's quarter to $2 billion this time.

"I am convinced that Digital is in the best position since the early 1980s to take advantage of current and emerging market opportunities," said Robert Palmer, Digital chairman. "I am convinced that Digital is in the best position since the early 1980s to take advantage of current and emerging market opportunities."

Backing up that claim, Digital said it will repurchase up to 15 million shares.

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