Monday, November 8, 2010

BTI Systems Raises $11 Million for its Packet-Optical Solutions

BTI Systems raised $11 million in new financing from existing investors as well as increases in credit facilities, working capital and a significant reduction in long term liabilities. The new financing allows the company to continue to invest in its products and portfolio expansions, technology and global footprint.

BTI Systems said its is on track to exceed a record $50 million in revenue this year, which has been driven by an increase in direct sales of 80 percent over the previous fiscal year. In March 2010, the company achieved EBITDA profitability and is anticipating reaching income profitability in Fiscal Year 2011. http://www.btisystems.com31014

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