Banyan still struggling

Banyan Systems (BNYN) recently announced long-awaited integration with Microsoft Windows NT, but that important move did not occur in time to affect a bleak third-quarter bottom line.

Banyan reported a net loss of $783,000 for the quarter, an improvement over 1995's $4.3 million net loss for the same period. But the numbers remained a stark reminder that the struggling software company is getting blown out of the water in the network operating system wars.

The company may make some gains in the coming months as it ports its StreetTalk directory service to the Windows NT platform. StreetTalk has long been a key distinction that set the company apart from its competitors, according to industry observers.

Banyan reported revenues of $28.1 million for the third quarter, down from $31.2 million for the same period last year. For the first three quarters of this year, the company reported revenue of $88.3 million and a net loss of $228,000 compared with revenues of $101.7 million and a net loss of $4 million in 1995.