Gateway net rises 21 percent

Gateway, the third largest U.S. personal computer maker, on Thursday reported a 21 percent gain in quarterly profit, helped by a tax gain as the company released reserves set aside for an audit, according to Reuters.

Net income in the third quarter rose to $18.2 million, or 5 cents per share, from $15.1 million, or 4 cents per share, a year earlier. Net sales slipped to $963.2 million from $1.02 billion, Reuters reported.