Ikanos Loses $4.5M in Q4
FREMONT, Calif. -- Ikanos Communications, Inc. (NASDAQ: IKAN), a leading provider of advanced broadband semiconductor and software products for the digital home, today announced its financial results for the fourth quarter and fiscal year of 2012, ended December 30, 2012. "For the fourth quarter, we met the high-end of our revenue guidance with revenue of $31.8 million while recording GAAP operating expenses of $19.3 million, within our guidance range of $19 to 20 million," said Dennis Bencala, CFO of Ikanos. "We continued to effectively manage our business and our cash position with cash totaling approximately $31.2 million at year end." Omid Tahernia, president and CEO, said, "Fiscal 2012 was a pivotal year for Ikanos in which we established a solid baseline of business while reducing portfolio complexity and managing operating expenses and gross margins. We completed the development of our Velocity-3 chipset and launched this industry-first NodeScale vectoring chipset at the October Broadband World Forum. We are pleased with the positive carrier reception we received as well as a number of service providers who have announced their intent to invest Capex on vectored VDSL2." Ikanos Communications Inc.