Wednesday, May 2, 2007

BigBand Posts Revenues of $52.8 million, up 62% YoY

In its first quarter as a public company, BigBand Networks reported net revenues of $52.8 million, an increase of 62% over $32.6 million in the first quarter of 2006. GAAP net loss for the quarter was $1.0 million, or ($0.05) per diluted share, compared to a net loss of $1.1 million, or ($0.09) per diluted share, in the first quarter of 2006. Excluding special charges, net of tax, non-GAAP net income for the first quarter of 2007 was $5.8 million, or $0.09 per diluted share.



Gross margin improved to 57.5% on a GAAP basis and 58.0% on a non-GAAP basis.



BigBand Networks completed its initial public offering of common stock on March 20, 2007 and raised net proceeds of approximately $88 million through the issuance of 7.5 million shares. As of March 31, 2007, the Company had $144.6 million in cash, cash equivalents and marketable securities.
http://www.bigbandnet.com

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