Tuesday, October 2, 2012

Radisys Appoints New CEO, Updates Q3 Guidance

Radisys named Brian Bronson as its new President and Chief Executive Officer, replacing Michel Dagenais, who has left the company and resigned as a member of the Radisys Board of Directors.  Mr. Bronson joined Radisys in 1999, has been an officer of the company since 2000, Chief Financial Officer since 2006 and President since 2011.

Radisys has appointed Allen Muhich as CFO and Corporate Secretary. Mr. Muhich joined Radisys in 2011 as Vice President of Finance.

In addition, Radisys trimmed its Q3 guidance.  The company now expects third quarter revenue to range from $63 million to $65 million which compares to earlier expectations of $66 million to $72 million.
“We are disappointed in our preliminary third quarter revenue levels,” commented Brian Bronson, Radisys President and Chief Executive Officer. “Our revenue, primarily in our higher margin products, is slightly below the expectations set at the beginning of the quarter and is expected to result in a third quarter Non-GAAP EPS loss. We continue to believe we are not losing market share, but rather are seeing softer customer demand in a challenging telecommunications spending environment. 

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