Wednesday, April 4, 2007

Network Equipment Technologies Cites Stronger Sales

Citing strong sales activity in the second half of its fiscal year, Network Equipment Technologies now expects 2007 fourth quarter revenues to be in the range of $24.7 to $25.2 million, which is more than 80 percent greater than the same period of fiscal 2006.

The company had forecast revenues for its 2007 fourth quarter in the range of $22.5 to $24.5 million. Ending cash for the quarter is expected to be approximately $90 million, as compared to its guidance of approximately $85 million. The higher cash balance is due both to increased sales and to proceeds from the exercise of stock options.

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