Wang Laboratories earned $7 million in its...

Wang Laboratories earned $7 million in its first fiscal quarter, an 87% drop from its year-earlier earnings of $51.2 million. But the quarter represented a return to profitability after recent losses, and the computer company said it took in a record $699 million in new orders during the quarter. Revenue increased marginally to $560 million. Chairman An Wang credited the return to profitability to sharp cost-cutting measures, but he said profit margins remain depressed because of pricing pressures. Wang said he was “cautiously optimistic” about the next nine months.