Wednesday, October 31, 2007

RadiSys Posts Q3 Revenue of $84 Million

RadiSys announced revenues of $83.6 million for the quarter ended September 30, 2007 and a net loss of $2.5 million or $0.11 per share. Non-GAAP net income for the third quarter was $2.8 million or $0.11 per diluted share. Non-GAAP results in the third quarter excluded a loss of $0.22 per share, primarily attributable to the impact of acquisition-related expenses and stock-based compensation expense.

Commenting on the financial results for the quarter, Scott Grout, President and CEO stated, "I am pleased with our results in the third quarter. We grew revenues by 11% sequentially, and our non-GAAP earnings were up nicely from the prior quarter driven by higher revenues and an improved gross margin rate. We are also excited about our recent acquisition of the ATCA and cPCI assets of Intel's MCPD business. This acquisition further solidifies our leadership position in ATCA and communications platforms, broadens our base of customers and enhances our global operations and market penetration. The early stages of the integration are going well, and we currently project that this business will be cash flow positive in the fourth quarter."

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