Tuesday, October 18, 2005

Redback Posts Revenues of $36.4 million, up 5% Sequentially

Redback Networks reported Q3 net revenue of $36.4 million, an increase of 5% from Q2 2005. Net revenue was up $15.4 million, or 73%, over Q3 2004. GAAP net loss for the third quarter of 2005 was $8.4 million or $(0.15) per share attributable to common stockholders compared to a GAAP net loss of $12.5 million or $ (0.24) per share in the third quarter of 2004.

"The continued selection of our SmartEdge platform as the intelligent IP platform for next generation services, such as IPTV and Video on Demand by the world's leading carriers gives me a great deal of confidence we have established a strong basis for continued growth going forward," said Kevin DeNuccio, president and chief executive officer, Redback Networks.