Wednesday, November 3, 2010

Ikanos Posts Q3 Revenue of $41.5 Million

Ikanos Communications reported Q3 2010 revenue of $41.5 million compared with revenue of $55.6 million for the second quarter of 2010 and revenue of $29.3 million for the third quarter of 2009. GAAP net loss for Q3 was $33.3 million, or $0.61 loss per share on 54.9 million weighted average shares. This compares with a net loss of $10.7 million, or $0.20 loss per share on 54.5 million weighted average shares in the second quarter of 2010 and with a net loss of $15.5 million, or $0.40 loss per share on 38.8 million weighted average shares in the third quarter of 2009.


"As discussed during the second quarter earnings call, Ikanos made the decision to transition from low-margin product lines to focus the Company on the development of new compelling products," said John Quigley, CEO and president of Ikanos. "As part of that plan, we also restructured the company allowing us to substantially reduce operating expenses and better address the market opportunities ahead. Ikanos is now a leaner, more highly focused Company with the technology roadmap, product development processes and engineering teams in place to accelerate the time to market of new disruptive technologies including NodeScale Vectoring which is expected to deliver the performance of fiber at 1/10th the cost."http://www.ikanos.com

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