PairGain Technologies Inc.: The Tustin telecommunications products...

PairGain Technologies Inc.: The Tustin telecommunications products company reported 1996 net income of $36.6 million, or 51 cents a share, which included $2.5 million from a brokerage firm in settlement of PairGain’s claims related to unauthorized trading losses in 1995. For the previous year, net income was $1.1 million, or 2 cents a share, which included the $15.4 million after-tax impact of the trading losses. Revenue gained 92% to $205.4 million from $107.2 million.

Fourth-quarter net income was $13.7 million, or 19 cents a share, down 6% from the $14.5 million, or 21 cents a share, posted a year ago. Revenue was up 82% to $63.1 million from $34.6 million.