Wednesday, July 25, 2012

Radisys Reports Q2 Revenue of $77.6 Million

Radisys reported Q2 revenues of $77.6 million and non-GAAP revenue of $77.7 million. Second quarter GAAP net income was $1.3 million or $0.05 per share and non-GAAP net income was $5.2 million or $0.17 per diluted share.

Commenting on the second quarter results, Mike Dagenais, Radisys' Chief Executive Officer, stated, "Our second quarter non-GAAP earnings came in towards the higher end of our expectations. A favorable ATCA customer mix combined with strong Software-Solutions revenue, which was over 20% of total revenue, enabled non-GAAP gross margins of over 37%, our highest level in many years. When combined with tight expense controls, we were able to achieve our expected earnings target despite the lower than expected overall revenue levels."

The company noted 24 new wins across 21 different customers, 9 of which were new to Radisys. The design wins were a healthy blend between ATCA and Com Express; Com Express in particular had very strong wins across many applications including medical imaging, military communications, and photo radar.

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