Wednesday, September 17, 2008

Harris Stratex Networks Increases Revenue Guidance for Q1 FY 2009

Harris Stratex Networks reported revenue of $186.8 million for its fiscal Q4, which ended June 27, 2008, representing an increase of 7 percent compared to $174.1 in the year ago period. GAAP net loss was $13.7 million or $0.23 per share, which includes $21.0 million in pre-tax charges associated with inventory impairment, amortization of purchase related assets, merger integration and restructuring, and stock compensation expense. The net loss for the fourth quarter of fiscal 2007 was $7.2 million.


North America microwave revenue was $55.1 million in the fourth quarter of fiscal 2008, compared with $58.8 million in the year ago period and $56.9 million in the prior quarter. International revenue was $124.6, compared with $110.6 million in the year ago period and $117.1 million in the prior quarter. Strong year-over-year growth was achieved in both Africa, which increased 16 percent, and Europe, Middle East and Russia, which increased 26 percent. Combined fourth quarter revenues for Latin America and Asia Pacific were $21.1 million, compared with $25.1 million in the year ago period and $22.0 million in the prior quarter. Network Operations revenue was $7.1 million compared with $4.7 million in the year ago period and $4.2 million in the prior quarter.


The company also raised its financial guidance based on current bookings. The company now expects Q1 FY 2009 revenue of between $185 million and $195 million. This is an increase from the prior forecast of between $175 million and $185 million.http://www.harrisstratex.com

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