Technology: Cambridge, Mass.-based Lotus Development Corp. said...

Technology: Cambridge, Mass.-based Lotus Development Corp. said second-quarter income slid 61% from a year ago to $9.1 million on sales of $186.4 million, a 5% increase. The software maker said results reflected “ongoing product-line transitions.” Seagate Technology Inc. said its fourth-quarter income slumped to $383,000 from $29.7 million a year ago, as revenue improved slightly to $676.9 million from $668.1 million. For the fiscal year ended June 30, income fell 42% to $67.4 million, but revenue increased to $2.7 billion from $2.4 billion. The disk drive maker said the quarter’s results include costs of a restructuring. Tandem Computers Inc. said its third-quarter income skidded 77% from a year ago to $7.3 million, as revenue edged up to $479.9 million from $472 million. The Cupertino, Calif., firm said “worldwide economic conditions (that) continue to put pressure on the computer industry” and the strengthening U.S. dollar dampened results.