Lernout and Hauspie results show massive rise

Belgian speech recognition company Lernout and Hauspie (L&H) reported 126 per cent revenues growth for its fourth quarter. The company turned in $76.7 million in revenues, compared to $33.8 million in the same period last year. Net profits for the period amounted to $12.9 million. Net profits for the whole of its 1998 financial year amounted to $37.8 million on revenues of $211.6 million. Revenues in 1997 were $99.4 million. Earlier this week, L&H announced that Intel had taken a $30 million equity stake in the company. ®