Wednesday, November 4, 2009

Veraz Posts Q3 Revenue of $18.7 Million, up 11% Sequentially

Veraz Networks reported Q3 revenues of $18.7 million, an 11% increase over the preceding quarter and a 19% decrease over the third quarter of 2008. On a GAAP basis, net loss was $(1.6 million), or $(0.04) loss per share, a 44% improvement over the preceding quarter, and an improvement over the loss of $(5.4 million) or $(0.13) loss per share reported in the third quarter of 2008. Gross margin was 64%, as compared to 54% for the preceding quarter and 59% for the third quarter of 2008.

Our operations were profitable on a non-GAAP basis as we strengthened our gross margins and sharpened our focus on the cost controls that create long term, sustainable profitability," said Doug Sabella, Chief Executive Officer of Veraz Networks. "In addition, we are pleased to have added eight new customers in the quarter: four new switching customers and four new bandwidth optimization customers."