Third-quarter net earnings double to $0.46 per share; backlog exceeds $1 billion for the first time

April 20, 2001

1 Min Read

ATLANTA -- Scientific-Atlanta, Inc. (NYSE:SFA) today reported recordfinancial results for its third fiscalquarter, with bookings, sales, backlog and cash each setting all-timerecords.

For the quarter ending March 30, 2001, bookings were $712.6 million, anincrease of $117.8 million, or 20%, overthe prior year's third quarter. Sales of $663.7 million rose by $223.0million, or 51%, from the same period a yearago. Net earnings for the quarter were $76.2 million, or $0.46 pershare. This represents a $38.1 million, or100%, improvement over the comparable period of the prior year, when netearnings were $0.23 per share.Backlog at quarter end was a record $1.0 billion, an increase of $227.8million from last year and up $48.9 millionfrom last quarter.

Scientific-Atlanta's balance sheet remains strong, with cash andshort-term investments of $723.8 million at theend of the third quarter. This represents an increase of $200.7 million,or 38%, over the fiscal year-end balanceat June 30, 2000 and an increase of $145.9 million, or 25%, from lastquarter's balance. The Company continuesto have no significant debt.

Commenting on the third quarter results, James F. McDonald,Scientific-Atlanta's Chairman and CEO said, "Oursuccess this quarter reflects the priorities of our North Americancustomers. Digital services continue to be verypopular with consumers and economically attractive to the cablecompanies. The resulting demand for ourExplorer® digital interactive set-tops, coupled with internationaltransmission growth, has been able tocompensate for any weakness in the domestic transmission market."

Scientific-Atlanta Inc.

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