Monday, February 16, 2009

Veraz Exceeds Fourth Quarter Guidance

Veraz Networks reported Q4 2008 revenues of $26.3 million, exceeding the previous management guidance range of $22 million to $24 million. * Total gross margin percentage for the fourth quarter of 2008 strengthened to 60%, the highest gross margin percentage in six quarters. In addition, the IP product gross margin percentage was 65%, which is the highest quarterly performance in the history of Veraz.


There was a net loss was ($0.9 million) or ($0.02) loss per share, which was lower than the previous management guidance range of ($3 million to $2 million), or ($0.07 to $0.05) loss per share. On a non-GAAP basis, Veraz recorded a net profit of $0.6 million, or $0.01 earnings per share (basic and fully diluted), which was better than the previous management guidance range of a non-GAAP net loss of ($2 million to $1 million), or ($0.05 to $0.02) loss per share.


"I am pleased to report that Veraz delivered better than expected quarterly results as we ended 2008," said Doug Sabella, Chief Executive Officer of Veraz Networks. "Our switching and bandwidth optimization solutions continued to deliver strong value to our customers, resulting in expansions with our existing customers as well as the addition of new customers."http://www.veraznetworks.com

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