Tuesday, January 29, 2008

Harris Stratex Networks Posts Quarterly Revenue of $181 Million

Harris Stratex Networks reported quarterly revenues for the period ended December 28, 2007 of $181.1 million and a GAAP net loss of $1.0 million or $0.02 per share, which includes $17.6 million in pre- tax charges associated with the merger transaction, integration, asset impairment and stock compensation expense.

North America microwave had record second quarter revenue of $63.8 million, realizing 13 percent growth compared to the prior quarter and an increase over the year ago quarter. Network Operations also had a strong revenue quarter at $6.5 million, comparable to the prior quarter and 30 percent higher than the year ago quarter.

International revenue of $110.8 million was comparable to the prior quarter and increased 7 percent compared with the year-ago period. Combined revenues for Latin America and Asia Pacific were $37.8 million, an increase of 54 percent compared to the prior year, as the company's focus on capturing new customers in these regions gained traction. Africa revenue at $41.0 million increased 4 percent compared to the year-ago quarter. Revenue in Europe, Middle East and Russia was $32.0 million, a decrease of 20 percent compared with the year ago period, as a result of operator consolidations and slower implementation of 3G networks.http://www.HarrisStratex.com

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