Atlanta -- Scientific-Atlanta Inc.'s investment in
Broadcom Corp. helped launch S-A to a record fourth quarter, with the firm reporting
earnings of $32.3 million last week..
Sales, however, declined by almost 6 percent, to $303.7
Also on Thursday, S-A said Tele-Communications Inc. had
agreed to buy its advanced Explorer 2000 digital set-tops. But the company declined to
detail the order.
David Beddow, senior vice president of TCI's National
Digital Television Center, said the order was contingent upon S-A making its Explorer 2000
set-top "essentially the same" as General Instrument Corp.'s DCT-5000
TCI earlier this year placed a hard order for 6.9 million
Earlier in the week, S-A announced orders from Cox
Communications Inc. and Comcast Corp. for Explorer set-tops.
Adjusting for one-time charges and gains, the company was
flat, with the same period a year ago earning $20.1 million (25 cents a share), compared
to $19.6 million.
S-A took a charge of $76.2 million in the quarter in a move
to enhance its competitive position and increase its efficiency worldwide. S-A also
reported a one-time gain of $94 million for its initial public offering investment in
For the year, S-A reported net earnings of $68.5 million,
excluding one-time items (87 cents a share), compared to $64 million a year ago. Sales
rose from $1.16 million to $1.18 million.