Monday, May 4, 2009

Harris Stratex Networks Posts Q1 Revenue of $158 Million, Down 11% YoY

Harris Stratex Networks reported quarterly revenue of $158.0 million, compared with $178.2 million in the year ago period. GAAP net loss was $38.3 million or $0.65 per share, compared with net income of $5.2 million or $0.05 per diluted share in the year ago quarter.


Revenue in the North America segment was $42.2 million, compared with $56.9 million in the year ago period. International revenue was $112.9 million, compared with $117.1 million in the year ago period. Network Operations revenue was $2.9 million compared with $4.2 million in the year ago period.


"In the face of difficult market conditions, our focus on operational improvements, balance sheet metrics, and overall cash management yielded strong results," said Harald Braun, president and chief executive officer of Harris Stratex Networks. "Our cash and short-term investments reached a record $116 million and our operating cash flow was positive for the seventh consecutive quarter."


"During the third quarter we continued global infrastructure build-outs addressing expanded broadband requirements as our network operator customers sought to meet continuing increases in data traffic. In February, we acquired Telsima, a leading developer of next-generation broadband wireless network solutions. We believe this acquisition affords us a strategic advantage with technology, software and a customer base as we pursue future 4G opportunities," added Braun. http://www.HarrisStratex.com

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