RadiSys Reports Q4
The Company reported 2007 full year revenues of $325.2 million, an increase of 11% compared to 2006 revenues of $292.5 million. The net loss in 2007 was $17.6 million or $0.80 per share, compared to a net loss of $13 million or $0.62 per share in 2006. Non-GAAP net income in 2007 was $7.8 million or $0.33 per diluted share, compared to non-GAAP net income of $12 million or $0.50 per diluted share in 2006.
Commenting on the financial results for the quarter, Scott Grout, President and CEO stated, “We had a strong quarter in our wireless business due to some acceleration of customer demand into the fourth quarter. This combined with a sequential increase in our Commercial business as well as a full quarter of revenue associated with our acquisition of the Modular Communications Platform Division (MCPD) from Intel resulted in record quarterly revenues for the Company with year over year growth for the quarter of 63% and sequential growth of 19%. We generated over $13 million in cash flow in the quarter and improved our cash cycle time nicely.” Scott Grout went on to say, “The integration of our MCPD acquisition is proceeding as planned and was accretive to earnings and cash flow, excluding acquisition related expenses, during the fourth quarter. We also had a number of new product wins during the quarter in applications such as wireless infrastructure, test and measurement, medical, video distribution and security. For the year we grew revenues 11% while making progress on our core strategies and gaining customer traction on our new products.”
Radisys Corp. (Nasdaq: RSYS)