Radisys posted Q4 2012 revenues of $69.3 million and a GAAP net loss of $4.9 million or $0.18 per share. Fourth quarter non-GAAP net income was $0.9 million or $0.03 per diluted share.
"Our fourth quarter revenue and profitability exceeded our expectations. Increased shipments in Software-Solutions, particularly within our MRF business, as well as our ATCA product lines enabled a 9% sequential quarterly increase in total revenue. This improved revenue performance, combined with solid expense management, enabled a return to non-GAAP profitability, stated Brian Bronson, Radisys' President and CEO.
- ATCA and Software-Solutions revenue accounted for 69% of revenue, growing 21% sequentially when compared to the third quarter of 2012.
- Fourth quarter platform design wins spanned a number of different applications such as Femto Gateways, Load Balancers, and Edge Routing.
- GAAP gross margin was 30%. Non-GAAP gross margin was 33%.
- Increased shipments of both Software-Solutions and ATCA products enabled a nearly two percentage point sequential gross margin improvement over the third quarter of 2012.
- The market response to the MPX-12000 (Media Resource Function) exceeded expectations and when combined with the company'saudio conferencing position, resulted in 2012 annual revenue growth of over 23% and a ramping funnel of opportunities in 2013. Trials and lab testing of the product's ability to process both voice and video over Next Generation LTE wireless networks at several large Tier 1 customers continue to progress well.
- The company's full suite of 40G ATCA T-Series products have been released to production.