Wednesday, March 10, 2010

Veraz Posts Flat Revenues of $18.6 Million, Explores Options

Veraz Networks reported Q4 2009 revenue of $18.6 million, which was roughly flat as compared to the third quarter of 2009 and lower than the $26.3 million recorded for the fourth quarter of 2008. Revenue for the full year was $75.1 million, as compared to $93.4 million for 2008. Gross margin percentage for the fourth quarter was 57%, which was lower than the record 64% for the third quarter of 2009 and lower than the 60% for the fourth quarter of 2008.


Net loss on a GAAP basis for the fourth quarter of 2009 was ($4.1 million) or ($0.09) loss per share, which was a larger loss than the ($0.9) million or ($0.02) loss per share for the fourth quarter of 2008 and the ($1.6) million and ($0.04) per share for the third quarter of 2009.


The company confirmed that it has engaged an investment banking firm to explore its strategic options.


"Obviously, 2009 was a very challenging year for the global economy, as well as for the telecommunications industry and clearly Veraz was not immune to the macroeconomic environment," said Doug Sabella, Chief Executive Officer of Veraz Networks. "Although the revenue decline we experienced was disappointing, it was in line with others in our industry."http://www.veraznetworks.comhttp://

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