Tuesday, July 22, 2008

Ikanos Posts Q2 Revenue of $29.9 million, Names New CEO

Ikanos Communications reported Q2 revenues of $29.9 million compared with revenue of $29.7 million for the first quarter of 2008 and revenue of $25.7 million for the second quarter of 2007. GAAP net loss for the second quarter of 2008 was $4.0 million, or $0.14 per share, on 29.3 million weighted average shares. This compares with a net loss of $4.8 million, or $0.16 per share, on 29.5 million weighted average shares in the first quarter of 2008 and with a net loss of $7.2 million, or $0.25 per share, on 28.4 million weighted average shares in the second quarter of 2007.


Ikanos Communications also announced the appointment of Michael Gulett as its new president and CEO, succeeding Michael A. Ricci who is leaving those positions and will pursue other interests. Michael Gulett has been a member of the Company's Board of Directors since 2003. Gulett has held CEO positions most recently at Tzero Technologies and ARC International, and was the interim CEO at Siliquent Technologies, which was acquired by Broadcom in 2005. Previously, Gulett served as president and COO at Virata Corporation and president and CEO of Paradigm Technology.http://www.ikanos.com

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